$98,265.00
5.69%$3,446.71
10.33%$2.31
16.60%$677.81
8.75%$193.30
9.09%$0.335843
25.28%$1.00
0.01%$0.960102
23.93%$3,438.86
10.53%$0.251492
11.13%$40.58
19.20%$23.85
17.45%$4,094.59
10.21%$5.50
14.28%$4.75
34.91%$0.000023
22.12%$97,932.00
5.31%$0.376072
18.94%$7.45
21.32%$33.52
44.42%$0.268915
13.16%$3,446.74
10.47%$468.00
18.85%$9.29
1.32%$13.92
22.66%$0.00001883
27.06%$103.92
18.51%$3,641.58
10.76%$5.39
17.96%$4.35
18.90%$0.999503
0.25%$10.59
4.74%$10.92
20.36%$0.999828
-0.29%$321.86
17.28%$0.167856
15.89%$0.503134
19.63%$27.42
13.90%$1.22
21.02%$7.63
23.18%$0.04859474
24.47%$3.92
13.27%$485.57
20.34%$1.36
19.25%$192.58
14.34%$24.56
1.14%$1.18
37.54%$0.803931
18.24%$5.24
18.08%$0.125381
12.34%$1.067
23.82%$0.355175
23.44%$46.23
9.98%$7.04
19.00%$2.69
29.34%$1.78
13.71%$1.82
21.68%$1.90
16.25%$0.00003335
32.19%$1.46
17.00%$5.37
21.25%$1.018
47.74%$2.28
28.98%$22.29
18.28%$2.15
21.96%$0.223469
19.80%$3,445.73
9.64%$98,281.00
5.60%$0.456125
20.77%$0.03028609
30.17%$2.36
20.32%$5.34
17.09%$3,574.84
10.29%$3,862.32
10.35%$0.00017941
20.96%$1.003
0.69%$0.03579789
24.49%$118.01
22.86%$13.24
13.06%$0.03857455
28.25%$3,622.36
10.57%$1.78
25.78%$0.02822974
12.21%$18.95
11.09%$0.02879628
30.86%$98,331.00
6.03%$1,675.92
10.67%$0.598129
24.67%$3.33
-0.08%$0.391815
19.59%$0.999448
-0.09%$1.36
23.85%$1.38
12.64%$0.234295
22.84%$98,081.00
5.24%$0.13763
23.95%$11.32
11.21%$4.63
21.26%$0.85828
19.93%$3,544.57
10.38%$7.12
15.94%$197.42
8.76%$37.07
15.65%$0.885568
17.11%$1.65
25.62%$0.754056
18.80%$0.078221
18.78%$0.502532
16.27%$17.27
17.78%$0.315594
21.99%$1.57
20.49%$56.20
17.15%$0.970538
26.85%$0.872403
25.11%$0.00000111
13.92%$1.15
17.69%$239.74
9.16%$14.81
16.41%$6.60
23.07%$36.80
22.72%$0.503832
21.04%$0.504784
19.19%$3,456.63
12.25%$97,272.00
4.49%$1.23
21.36%$0.884889
-11.14%$5.37
27.90%$97,683.00
5.79%$54.30
29.67%$0.00000218
8.99%$4.05
13.81%$3.11
12.24%$0.090661
20.72%$3.36
19.18%$0.287137
19.86%$0.811519
23.95%$0.168583
18.38%$0.723208
32.95%$0.646342
18.87%$3,447.04
10.29%$85.21
22.20%$205.52
9.23%$0.998411
0.25%$1.99
16.50%$2.51
20.19%$1.64
30.25%$0.793242
45.85%$2.15
14.41%$3,447.23
10.83%$0.00003653
16.96%$22.33
21.08%$1.57
21.80%$0.00701774
25.66%$0.00828814
17.23%$269.07
15.94%$0.335931
24.09%$0.188042
23.07%$0.782226
21.57%$0.00670041
18.99%$0.684271
14.84%$97,158.00
7.99%$0.663708
21.47%$5.92
20.18%$2,631.62
1.09%$0.998494
0.55%$0.00
32.71%$3,624.50
10.31%$0.0117387
26.21%$0.00011398
23.63%$3,728.02
10.07%$2.54
22.36%$0.00881589
24.01%$19.74
26.82%$1.26
2.26%$0.086762
20.09%$0.00654916
22.78%$27.75
17.93%$0.278482
17.47%$1.12
21.57%$3,443.38
10.70%$0.408111
19.84%$11.12
19.23%$1.36
29.13%$0.556028
41.25%$1.34
23.54%$0.077598
4.17%$14.60
32.48%$98,111.00
6.31%$1.019
0.01%$0.999762
-0.07%$0.054558
45.71%$0.00000053
9.29%$2,630.20
1.41%$1.56
16.41%$32.79
29.08%$0.01142396
23.36%$97,426.00
5.01%$3,438.42
10.14%$3,447.90
10.47%$4.97
15.50%$8.72
-19.92%$1.002
0.22%$0.45645
21.23%$0.00663328
40.79%$0.063181
18.75%$38.64
20.10%$0.067654
17.17%$0.294224
76.53%$0.00660013
18.94%$0.00256534
23.34%$0.00582472
25.56%$97,922.00
5.31%$2.15
20.03%$3,703.36
10.42%$3,592.27
10.14%$0.00105965
22.75%$1.061
-0.06%$0.02235425
22.95%$27.09
59.15%$3.28
14.18%$0.073999
12.47%$0.235982
23.87%$0.00000332
25.56%$0.486709
17.88%$5.27
6.43%$1.001
2.37%$0.217693
20.00%$1.077
-0.33%$88.81
3.85%$2.57
22.25%$0.999997
0.25%$0.698707
20.98%$3,826.60
10.71%$0.00000018
16.42%$0.03891577
12.52%$3.06
12.49%$3.53
21.29%$0.14509
12.98%$47.93
20.10%$0.908217
10.53%$0.03745421
21.50%$0.765209
30.68%$0.01104887
21.43%$0.37044
15.47%$1.002
-0.55%$3,456.23
11.14%$0.367801
18.25%$0.03853792
20.17%
Bitcoin’s “realized” market capitalization reached an all-time high of $378 billion today, according to data from metrics site Glassnode.
📈 #Bitcoin $BTC Realized Cap just reached an ATH of $378,768,190,450.72
View metric:https://t.co/C8JhD26mC1 pic.twitter.com/ohXnmFDkNk
— glassnode alerts (@glassnodealerts) August 14, 2021
Realized market cap measures the size of Bitcoin’s active market cap. The measurement ignores stashes of Bitcoin that haven’t changed hands for a long time, such as the dormant riches of Bitcoin creator Satoshi Nakamoto, whales, lost coins or long-time HODLers.
To calculate realized market cap, data metrics platforms like Glassnode assign time-sensitive values to coins. If a coin last moved in 2018, when the price of Bitcoin was $6,000, that coin is priced at $6,000 rather than today’s price.
The standard measurement of market capitalization is a multiplication of all the coins in circulation by the current price of the coin. Bitcoin’s total market cap is $880 billion, according to CoinGecko.
Realized market cap provides a clearer estimation of the size of the “active” Bitcoin market. That Bitcoin’s realized market cap hit its all-time high when Bitcoin’s price is still far from its peak of $64,800 suggests that there’s never been as much “active” money in Bitcoin.
The spike in realized market cap coincides with Bitcoin hitting $48,000, its highest price since the market crash that began in mid-May. Bitcoin has increased by 9.5% this week and 42.5% this month. Shortly after hitting $48,000, Bitcoin fell sharply to $46,700.
Another sign of the hubbub is Bitcoin’s latest mining difficulty adjustment. In its latest fortnightly change, the Bitcoin network made mining 7.3% more difficult yesterday to account for the increased competition among miners.
The adjustment was the second consecutive positive change after two months of drops; the drops followed a crackdown on Bitcoin mining in China, which also cut Bitcoin’s price in half. Today’s all-time high for Bitcoin’s realized market cap shows traders are clawing back their coin.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
