The on-chain analytics firm Glassnode revealed in its latest weekly report that demand for Bitcoin has slowed recently.
Bitcoin Realized Cap Has Slowed Down Its Uptrend Recently
In its new report, Glassnode has discussed the latest development in the Bitcoin Realized Cap. The “Realized Cap” refers to an on-chain capitalization model for BTC that calculates the asset’s value by assuming the value of each coin in circulation to be equal to the spot price at which it was last moved on the blockchain.
As the last transfer on the network for any coin was probably the last time it changed hands, the price at that time could be assumed to be its current cost basis. As such, the Realized Cap is a total sum for the cost basis of the entire circulating supply.
In other words, this model represents the total capital that the investors used to purchase Bitcoin. Because of this, this metric is used to track whether capital is flowing into or out of the cryptocurrency.
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