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  • Indicator Overview
  • How is it measured?
  • Further Resources
  1. Guides & Tutorials
  2. Metric Guides
  3. Unrealized Profit/Loss

Unrealized Profit

Unrealized Profit represents the total profit accrued by UTXOs which were created when the price of the asset was lower than the current price.

PreviousNUPL (Net Unrealized Profit/Loss)NextUnrealized Loss

Last updated 4 months ago

Indicator Overview

By looking at the delta between the price when a was created vs. the current price of an asset, we can determine whether the specific coins in that UTXO are in a state of unrealized profit (price has increased) or loss (price has decreased), and to what extent.

Unrealized Profit represents the total profit accrued by UTXOs which were created (i.e. realized) when the price of the asset was lower than the current price.

How is it measured?

Unrealized Profit is defined as the total profit (in USD) of all coins in existence whose price at realization time was lower than the current price, normalized by the market cap.

UnrealizedĀ Profit=valueā‹…(priceĀ [USD]āˆ’pricecreatedĀ [USD]) (ofĀ allĀ UTXOsĀ whereĀ priceĀ >Ā pricecreated)RelativeĀ UnrealizedĀ Profit=UnrealizedĀ ProfitMarketĀ Cap\begin{align*} \textrm{Unrealized Profit} &= \textrm{value} \cdot (\textrm{price}~{\color{gray}{\textrm{[USD]}}} - \textrm{price}_\textrm{created}~{\color{gray}{\textrm{[USD]}}}) \\ &\quad\, {\color{gray}{\textrm{(of all UTXOs where price $>$ price$_\textrm{created}$)}}} \\[2em] \textrm{Relative Unrealized Profit} &= \frac{\textrm{Unrealized Profit}}{\textrm{Market Cap}} \end{align*}UnrealizedĀ ProfitRelativeĀ UnrealizedĀ Profit​=valueā‹…(priceĀ [USD]āˆ’pricecreated​ [USD])(ofĀ allĀ UTXOsĀ whereĀ priceĀ >Ā pricecreated​)=MarketĀ CapUnrealizedĀ Profit​​

Further Resources

Rafael Schultze-Kraft -

šŸ“–
View Unrealized Profit in Glassnode Studio
View Unrealized Profit in Glassnode API Docs
Dissecting Bitcoin's Unrealised On-Chain Profit/Loss
UTXO
Bitcoin: Unrealized Profit