The BTC-ETH Realized Dominance metric is an oscillator which tracks the macro outperformance trends between the top two crypto-assets. Realized cap acts to discount lost and long dormant coins, and this provides a model more accurately assessing the capital flows in and out of the two major assets.

It considers only the Realized Cap of Bitcoin, relative to the combined Realized cap of Bitcoin plus Ethereum. It is calculated as follows:

Dominance = BTC Realized Cap / (BTC Realized Cap + ETH Realized Cap) - 0.765 with the 0.765 factor included to visualize the oscillator around a long term mean.

• Higher Values and Uptrends indicate outperformance by Bitcoin.

• Lower Values and Downtrends indicate outperformance by Ethereum.