LTH Realized Cap

LTH realized market cap

Property	Value
Category	Valuation Metrics
Unit	USD
Resolution	1d
Assets	BTC
Tier	Basic
API Endpoint	GET /v1/holder/valuation
Field	lth_realized_cap

Overview

LTH Realized Cap is the aggregate USD value of all Long-Term Holder coins, each valued at the price when it was last moved. LTH/STH classification uses the logistic weighting function centered at 155 days.

Formula

$\text{LTH Realized Cap} = \sum_{i \in \text{UTXOs}} W_{LTH}(age_i) \times \text{amount}_i \times \text{price at last move}_i$

Interpretation

• Represents the total cost basis of long-term holders.
• When market cap exceeds LTH realized cap significantly, the LTH cohort is in aggregate profit.
• Provides a "fair value" floor based on holder conviction.

Use Cases

• Cost basis analysis: Understand the average entry price of committed holders.
• MVRV derivation: Used as the denominator in LTH MVRV ratio.
• Market cycle analysis: Compare against market cap to assess over/undervaluation.

API Usage

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/holder/valuation?start_date=2024-01-01&end_date=2024-12-31&limit=365"

Related Metrics

• STH Realized Cap — STH realized market cap
• LTH Realized Price — LTH cost basis
• LTH MVRV — LTH profit ratio