Bitcoin’s realized market cap hits $600 billion

Share This Post

Onchain Highlights

DEFINITION: Realized Cap values different part of the supplies at different prices (instead of using the current daily close). Specifically, it is computed by valuing each UTXO by the price when it was last moved.

Bitcoin’s realized capitalization has shown a marked increase alongside the asset’s price in 2024. As depicted in the charts, realized cap reflects the aggregate value of all BTC at the price they were last moved, diverging from traditional market capitalization metrics. This metric reached approximately $600 billion in June 2024, coinciding with Bitcoin’s price stabilizing near $63,000.

Realized Cap: (Source: Glassnode)
Realized Cap: (Source: Glassnode)

Historical data indicates a consistent upward trajectory in the realized cap, with notable accelerations during significant market rallies. The current surge indicates substantial market activity, with long-term holders transacting and potentially revaluing older UTXOs at higher prices. This trend aligns with the post-halving period’s impact on market forces, often marked by reduced supply growth and increased demand.

The realized cap’s growth provides insights into market sentiment and investor behavior, highlighting confidence in Bitcoin’s value retention over time. The interplay between the realized cap and price illustrates Bitcoin’s maturation as a digital asset, with increasing capital locked in at higher valuations reflecting a robust market structure.

Realized Cap: (Source: Glassnode)
Realized Cap: (Source: Glassnode)

The post Bitcoin’s realized market cap hits $600 billion appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Ethereum Price Nears Critical 100-Day SMA – Will It Break Through?

Ethereum (ETH) has been on a slow and steady upward trajectory, inching closer to a crucial technical indicator: the 100-day Simple Moving Average (SMA) This level is more than just a line on a

Fake ‘Investment Education’ Crypto Scams Are Exploding—Regulator Issues Dire Warning

Fake “investment education foundations” use deceptive trials and bogus loans to scam cryptocurrency investors, North Dakota regulators warn Regulator Sounds the Alarm: Fake ‘Investment

Promises Made, Promises Kept

Last week America officially started a Strategic Bitcoin Reserve, but the Market doesn’t seem to care yet Last Week Macro Arguably Mattered More Than Policy Trump and macro dominated last week

Bitcoin Theft: UK NCA Officer Charged For Stealing 50 BTC

The UK Crown Persecution Service (CPS) has filed charges against a law enforcement agent for allegedly stealing 50 Bitcoin (BTC) in 2017 This development comes amidst continuous efforts by the UK

Bitcoin Price Breaking Out Of This Pattern — Can BTC Reclaim $90,000?

The Bitcoin price has shown good signs of recovery over the past few days, briefly returning above the $85,000 level to kickstart the weekend While BTC’s price has often floundered towards the end

Fixing Ethereum’s biggest problems

The following is a guest post from Rostyslav Bortman, Founder at Ethereum Ukraine If you’re planning to launch a stablecoin or preparing for a token generation event (TGE), your choice of