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CYCLESCOPE · HOLDER BEHAVIOR

LTH-SOPR

Shows the profit or loss realized when long-term holder coins move. A value of one is the aggregate break-even level.

WHAT IT MEASURES

The realized outcome of older coins

LTH-SOPR compares the value of spent long-term-holder outputs when they move with their value when those outputs were created.

HOW IT IS CALCULATED

Spend value versus cost basis

Value of spent LTH outputs ÷ value when created

The provider assigns coins to the long-term cohort according to its coin-age methodology.

HOW TO INTERPRET

One is the key reference

  • < 1×Long-term-holder coins that moved realized an aggregate loss.
  • = 1×Aggregate break-even for the spent coins.
  • > 1×Moved coins realized profit; high spikes should be checked against spent volume.
HOW TO USE IT

Separate the multiple from volume

A high SOPR on small volume is weaker than broad profit-taking. Compare it with CDD, LTH Supply and exchange flows.

LIMITATION

Only spent coins are sampled

The metric does not describe every holder and can be volatile. It does not prove that moved coins were sold on the market.

This material is for market research and is not investment advice.