Definition. Entity-Adjusted UTXO Realized Price Distribution (URPD) is a histogram showing the amount of supply that last moved within each price bucket, with each entity's full balance assigned to a single bucket at the entity's balance-weighted average purchasing price.

Technical. Coin movements between addresses controlled by the same entity are discarded, as such transfers do not correspond to real purchasing events and would distort the mean purchasing price. All supply held on exchanges is also excluded, because a single averaged price across the funds of millions of users would be misleading and produce artifacts in the data.