Median SOPR

Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.

The median, across the assets of our basket, of each day's spent output profit ratio (SOPR): whether the coins moved across the market we cover were sold at a profit or a loss.

Why use it. Bitcoin's SOPR speaks for one asset; the median shows whether profit-taking or loss-selling is broad. How to read it. Above 1 the typical asset's spent coins moved at a profit, below 1 at a loss. Long stretches under 1 have come with broad capitulation, as in late 2022.

Calculation. The median of the members' daily SOPR, over the weekly basket of Total Realized Cap Index (from 6 August 2018). The basket is every asset whose realized cap and SOPR we compute from our own nodes: Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash and the ERC-20 tokens we index (wrapped bitcoin is left out, its coins being Bitcoin's). It is far smaller than an all-market basket and changes as we add tokens. Computed from the published Realized Cap and SOPR charts of each asset (our own Bitcoin, Litecoin, Dogecoin, Bitcoin Cash and Ethereum archive nodes; token amounts and cost bases from the Ethereum node), closed UTC days only, recomputed every hour; values take the finality of their inputs.