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BTC - Net Unrealized Profit, Entity-Adjusted

Description

The Bitcoin Net Unrealized Profit, Entity-Adjusted (USD) shows the amount of unrealized profit held by asset holders valued using an entity-adjusted cost basis.

The Bitcoin Net Unrealized Profit, Unadjusted (USD) shows the amount of unrealized profit held by asset holders valued using each UTXO's last moving price to calculate cost basis.

Bitcoin's USD Market Price is included for reference.

Pseudocode

Bitcoin Unrealized Profit, Unadjusted (USD):

for each block in blockchain:
  block.unreal_profit = 0
  block.btc_price = get_btc_market_price(block.time)
  for each utxo in ledger:
    if utxo.last_move_price < block.btc_price:
      block.unreal_profit += (utxo.btc * (block.btc_price - utxo.last_move_price))
  (x,y1) := (block.time, block.unreal_profit)

for each hour in blockchain:
hr_unreal_profit := first(blockchain[hr_start:hr_end].unreal_profit)
(x,y1) := (hour, hr_unreal_profit)

for each day in blockchain:
day_unreal_profit := first(blockchain[day_start:day_end].unreal_profit)
(x,y1) := (day, day_unreal_profit)

Bitcoin Unrealized Profit, Entity-Adjusted (USD):

for each block in blockchain:
  block.unreal_profit_eadj = 0
  block.btc_price = get_btc_market_price(block.time)
  for each utxo in ledger:
    if utxo.basis_price_eadj < block.btc_price:
      block.unreal_profit_eadj += (utxo.btc * (block.btc_price - utxo.basis_price_eadj))
  (x,y2) := (block.time, block.unreal_profit_eadj)

for each hour in blockchain:
hr_unreal_profit_eadj := first(blockchain[hr_start:hr_end].unreal_profit_eadj)
(x,y2) := (hour, hr_unreal_profit_eadj)

for each day in blockchain:
day_unreal_profit_eadj := first(blockchain[day_start:day_end].unreal_profit_eadj)
(x,y2) := (day, day_unreal_profit_eadj)

Technical Info

Unadjusted Unrealized Profit shows the total unrealized profits in USD across the market using a cost basis for each coin based on BTC's market price when it last moved in any way.

Entity-Adjusted Unrealized Profit shows the total unrealized profits in USD across the market using a cost basis for each coin based on BTC's market price when it last moved between entities.

I am aware there is a wobble in the block data for both of these series and am working on a correction. Thanks!

Our entity tracking uses a proprietary algorithm, the foundation of which groups transaction input addresses. We currently track over 99 600 000 entities, spanning over 795 000 000 addresses. The largest entity has approximately 37 480 000 addresses, and the average has 7.98.

Hourly and daily aggregations are derived from block data using first for this metric.
Hourly data contains occasional gaps; no blocks were generated during these times.

Related Metrics

Disclaimers

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