Realized Cap - UTXO Value Bands USD - CryptoQuant User Guide

Definition
Realized Cap - UTXO Value Bands show the distribution of realized cap of a specified value band. Each colored band represents the Realized Cap of UTXOs in existence, which has a value within the denoted range in USD value. Realized Cap is calculated by valuing each UTXO by the price when it was last moved. This indicator summarizes the capitalization held by whales and retails.
Realized Cap - UTXO Value Bands USD=∑u∈utxosvalueu∗I(ai≤valueu<bi)∗Priceu, at created\text{Realized Cap - UTXO Value Bands USD} =\sum_{u \in utxos} \text{value}_u * \mathbb{I}(a_i \leq \text{value}_u < b_i) * \text{Price}_{\text{u, at created}}Realized Cap - UTXO Value Bands USD=u∈utxos∑​valueu​∗I(ai​≤valueu​<bi​)∗Priceu, at created​
[ai,bi)∈[0,0.01),[0.01,0.1),[0.1,1),[1,10),[10,100),[100,1k),[1k,10k),[10k,inf)[a_i, bi) \in [0, 0.01), [0.01, 0.1), [0.1, 1), [1, 10), [10, 100), [100, 1k), [1k, 10k), [10k, inf)[ai​,bi)∈[0,0.01),[0.01,0.1),[0.1,1),[1,10),[10,100),[100,1k),[1k,10k),[10k,inf)
​
Metric
Definition
Realized Cap - UTXO Value Bands USD
Each colored band represents the Realized Cap of UTXOs in existence, that have a value within the denoted range in USD value.
Realized Cap - UTXO Value Bands (%)
Each colored band represents the ratio of Realized Cap of UTXOs in existence, that have a value within the denoted range.
​
Interpretation 
This indicator summarizes the behaviors of whales or retails separated by the amount of coins they hold along with price actions. As price rises/falls, it is advised to watch out for shifting distribution in the UTXO Value Bands to further gain insights on the market through analyzing its participants. 

It provides valuable tools for analyzing static macro views of holders' amount distribution (Whale/Retails) in the network and viewing the macro shift in influence difference between Whale and the retails.
Different from UTXO Value Bands indicating UTXO native values or USD value which applies the current same price standard to each band, Realized Cap - UTXO Value Bands USD applies each UTXO by the price when it was last moved makes the indicator some advantages overseeing the market. 
1) Lost Old Coins' influence on the metric is minimized.
Applying Realized price naturally accounts for long-held but lost coins. For example, UTXOs that located at the Value Band of 1k to 10k may be great in amount but if it is held over 10 years without any movement, it could be considered lost. UTXOs like these could be represented as a substantial amount in the normal UTXO Value Bands but it's minimized at the Realized Cap- UTXO Value Bands because of the low price that bitcoin was at the time. 
2) Represents Stored Value as it counts for each economical circumstance at the time along with Value band.
Bitcoin's price has been x10000 since its creation and equalling the same amount of purchase at the cost of a dollar with standards today might be misleading in evaluating stored value. Realized Cap - UTXO Value Bands accounts for the economic standard of the according to Band Age.
By value itself
High value(Native Value) & Dominance(%) in certain Realized UTXO Value Band
- Value Band's type of investor has more representative 
For example, if the UTXO Value Band of 1k to 10k has the greatest UTXO Value Band Value,
1) It is possible to interpret it as investors that hold 1k to 10k who are most likely to be whales have more potential of influencing the market in terms of both amount and the total amount it was paid to acquire. 
2) The average price range bought by the according to UTXO Value Bands(Whales/Retails) could indicate an important price level in the market.  
 Low value(Native Value) & Dominance(%) in certain UTXO Value Band
- Less influence & type of investor has less representative 
For example, if the UTXO Value Band of 1k to 10k has the lowest UTXO Value Band Value,
It is possible to interpret it as investors that hold 1k to 10k who are most likely to be whales have less potential of influencing the market than other UTXO Value Band in terms of both amount and the total amount it was paid to acquire. 
By examining trend 
Larger UTXO Value Bands Gaining Dominance or Larger in Depth
- More UTXOs are being held in the hands of the possible whales and more capital (stored value) is being used to acquire them = Increasing Whale Dominance
More UTXOs are being in large quantities that are mostly held by whales or in terms of capital it was required to acquire UTXOs. Unlike having mid-sized UTXOs in several numbers, increasing the number of big-sized UTXO (meaning in the amount) is strong evidence of whale presence. 

 In addition, instead of UTXOs being in small amounts, it could indicate that the individual size of UTXO is starting to be managed in a big chunk. 
Smaller UTXO Value Bands Gaining Dominance or Larger in Depth
- More UTXOs are being held in the hands of the possible retail = Possible Decrease of Whale Dominance
As more UTXOs are getting a smaller amount in size, it could indicate that retails are gaining more possession of the holdings, and retails are storing more value into the network. 
Link to Our Data
​Realized Cap - UTXO Value Bands USD Live Chart​
​Realized Cap - UTXO Value Bands USD (%) Live Chart​

UTXO Value Bands

UTXO Count - Value Bands

Last modified 4mo ago

Copy link

Contents