Definition. Spent Output Price Distribution (SOPD), Percent-Partitioned, is a histogram of the day's spent BTC volume bucketed by the price at which each spent output was originally acquired. Each bar reports the amount of BTC volume that moved within the bucket, where the x-axis price refers to the lower bound of that bucket. Spent Output Price Distribution (SOPD): ATH-Partitioned is the ATH-partitioned counterpart, and UTXO Realized Price Distribution (URPD): Percent-Partitioned is the related distribution of unspent supply.

Technical. The percent-partitioned variant defines buckets by taking the day's closing price and creating 50 equally spaced buckets above and 50 below it, each ±2% wide. Amounts above 200% of the closing price fall into one additional top bucket. Originally developed for UTXO-based blockchains, this version generalizes the concept to account-based chains as well. For assets other than BTC, each spent amount is bucketed by the sending address's average acquisition price. For ETH and ETH tokens, spends are netted per address per block, which removes change; for BTC, DOGE, TON, TON tokens, TRX and XRP, all transfers are counted. For ETH tokens, burn addresses are excluded.

Notes. For more information, see Introducing Account-Based Metrics and our articles on entity-adjustment and account-based metrics here and here.