This chart measured the 7-day percent change in the Realized price for various on-chain cohorts. This helps to identify periods where the aggregate cost basis has increased, or decreased by a significant amount over a short period of time.

Realized Price reflects the aggregate price when each coin was last spent on-chain. Using Short- and Long-Term Holder heuristics, we can calculate the realized price (estimated average acquisition price) for each investor cohort.

• 🟠 The Realized Price reflects the average on-chain acquisition price for the entire coin supply.

• 🔴 Short-Term Holder Realized Price reflects the average on-chain acquisition price for coins held outside exchange reserves, which were moved within the last 155-days. These reflect the most probable coins to be spent on any given day.

• 🔵 Long-Term Holder Realized Price reflects the average on-chain acquisition price for coins held outside exchange reserves, which have not moved within the last 155-days. These reflect the least probable coins to be spent on any given day.