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Metric Groups

Blocklens organizes its vast array of on-chain metrics into logical groups to help you better understand market dynamics from different perspectives. Here is an overview of our primary metric categories.

Holder & Supply Metrics​

This group focuses on the supply dynamics of an asset and the behavior of its holders.

  • Holder Supply: Tracks the distribution of supply between Long-Term Holders (LTH) and Short-Term Holders (STH).
  • Supply Distribution: Analyzes how supply is distributed across different wallet balance cohorts.

Valuation Metrics​

These metrics aim to assess the "fair value" of a crypto asset by comparing its market price to its on-chain fundamentals.

  • MVRV Ratio (Market Value to Realized Value): Compares the market capitalization to the realized capitalization to identify periods of over or undervaluation.
  • Realized Price: The average price at which each coin in the supply was last moved on-chain.

Profitability Metrics​

This category measures the state of profit and loss in the system, providing powerful insights into market sentiment and holder behavior.

  • SOPR (Spent Output Profit Ratio): Indicates whether coins being spent on any given day are, on average, being sold at a profit or a loss.
  • Realized P&L: Tracks the total daily profit or loss (in USD) realized by all holders who spent their coins.
  • Unrealized P&L: Measures the total "paper" profit or loss held by all participants in the network.