STH Realized Cap

STH realized market cap

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

Overview

STH Realized Cap is the aggregate USD value of all Short-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

$\text{STH Realized Cap} = \sum_{i \in \text{UTXOs}} (1 - W_{LTH}(age_i)) \times \text{amount}_i \times \text{price at last move}_i$

Interpretation

• Represents the total cost basis of speculative/recent participants.
• STH realized cap rising rapidly indicates significant new capital inflows.
• When price drops below the aggregate STH cost basis, capitulation events often follow.

Use Cases

• New capital tracking: Monitor inflows from recent market participants.
• Capitulation detection: Price trading below STH realized price signals potential capitulation.
• MVRV derivation: Used as the denominator in STH MVRV ratio.

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

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