According to recently-published data from Crypto market data aggregator Glassnode, Bitcoin’s realized capitalization is now more than 50% above its all-time high of $20,000 which happened back in 2017.
This type of metric concerns realized capitalization and measures the value of each individual Bitcoin at the time it was last moved on-chain. This also allows analysts to figure out the aggregate cost-basis of participants in the cryptocurrency market.
However, it must be said that coins on centralized exchanges are not part of this analysis. This means that the data is more accurate when it comes to the cost-basis of long-term investors than that of intra-day speculators. At the moment, Bitcoin’s realized cap stands at $115 billion which is $43 billion above 2017’s all-time high. The cryptocurrency’s current market cap sits at $190 billion and indicates that Bitcoin hodlers are now taking advantage of an aggregate profit of 65%.
According to a Coinmetrics chart, Bitcoin’s realized capitalization kept on growing higher and higher over the first months of 2018. Between January and May, it pushed to test $90 billion three times even with the crashing prices that went below $10,000.
In Q2 2020, pre-halving speculation prompted Bitcoin’s realized cap to grow by 6%. However, with the abrupt crash that happened on “Black Thursday”, 2020’s gains were immediately reversed. Since the month of May, its realized capitalization has been part of an upward trend.
Crypto data researchers IntoTheBlock recently said that over 72% of crypto addresses are profitable at the moment, with the biggest investments sum in the price ranges between $1,040 to $5,285, and $8,450 to $9,560, respectively.
When it comes to Ethereum, the situation is completely different. Its current realized capitalization of $26.3 billion is still far away from its 2018 record of $35 billion, which was 25% higher than it is now.
Ethereum also had a longer down-trend in comparison to Bitcoin, with a local low of $22.4 billion in mid-April this year. When it comes to Ethereum’s addresses, it appears that 62% of them are currently profitable. Their largest share was bought for less than $160.
All in all, it seems that there is a big difference between Ethereum and Bitcoin when it comes to their individual realized caps, with one finding itself on an ascending trend while the other not so much. However, the battle is not over yet and we will see what the future holds for cryptocurrency.