Realized profit
money actually taken off the table in gains
How much money holders actually locked in as profit by spending coins for more than they paid. Big spikes cluster around cycle tops, when everyone is selling into strength.
DefinitionPer block, summed over spent outputs where the spend price exceeds the creation price: value x (price at spend - price at creation).
LimitCoins with no cost basis realize their full value as profit, which is what a zero cost basis means. The 1.46M BTC mined before a market price existed (17 July 2010) carry a cost basis of zero rather than being dropped, so they flatter every profit measure built on this. Supply with no cost basis charts how much that is. In euro this is the global market's cost basis expressed in euro, not what European holders paid; before 2013 the euro price is the dollar price converted at the ECB rate.