Granular Cohorts for Key On-Chain Metrics

Introduction

We are thrilled to introduce you to 28 new, cutting-edge on-chain metrics, now available only on Glassnode for both Bitcoin and Ethereum. The new suite adds unprecedented depth and insight into critical metrics. By incorporating detailed breakdowns based on the age of holdings and wallet size distributions, you can now enrich your understanding of capital flows, asset fundamentals, and market sentiment. Users can access these metrics in Studio by navigating to “Breakdowns” or via API.

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What is being released?

We are releasing 28 new metrics and multiple dashboards designed to provide a more granular view of key BTC and ETH on-chain metrics within our Enterprise Plan. The new metrics are:

• MVRV

  • MVRV by Age

  • MVRV by Wallet Size

• Market Cap

  • Market Cap by Age

  • Market Cap by Wallet Size

• Realized Cap

  • Realized Cap by Age

  • Realized Cap by Wallet Size

• Realized Price

  • Realized Price by Age

  • Realized Price by Wallet Size

• Realized Profit & Loss

  • Realized Loss by LTH/STH

  • Realized Loss by LTH/STH

  • Realized Loss by Wallet Size

  • Realized Profit by Age

  • Realized Profit by LTH/STH

  • Realized Profit by Wallet Size

• SOPR

  • SOPR by Age

  • SOPR by LTH/STH

  • SOPR by Wallet Size

• Spent Volume

  • Spent Volume in Loss by Age

  • Spent Volume in Loss by LTH/STH

  • Spent Volume in Loss by Wallet Size

  • Spent Volume in Profit by Age

  • Spent Volume in Profit by LTH/STH

  • Spent Volume by Profit by Wallet Size

  • Spent Volume by Age

  • Spent Volume by LTH/STH

  • Spent Volume by Wallet Size

• Supply

  • Supply by Age

  • Supply by Wallet Size

The new Dashboards are:

• BTC — Short-Term Holder Profitability Breakdown

• BTC — Single-Cycle LTH Profitability Breakdown

• ETH — Short-Term Holder Profitability Breakdown

• ETH — Single-Cycle LTH Profitability Breakdown

Which questions do these metrics help answer?

As you dive into these new metrics, we want to share some fascinating questions you can start to answer with them:

• MVRV — Are older coins being held at a higher relative valuation than coins that recently changed hands?

• Market Cap — Is the majority of the market value held in older or newer coins?

• Realized Price — Is the average acquisition cost higher for older or newer coins?

• Realized Loss — Is the total realized loss greater for hot or cold supply?

• SOPR — Are older coins being sold at a profit more frequently compared to newer coins?

• Spent Volume — Is the volume of assets sold at a loss greater for older or newer coins?

• Supply — Is the majority of the total supply held in older coins, indicating a mature market, or in newer coins, indicating a growing market?

Where can I find these metrics?

You can access these metrics in Studio by navigating to 'Charts' and then selecting 'Breakdowns'. The metrics are also available via API.

Where are the Ethereum metrics?

To view the ETH variants in Studio, simply navigate to one of the metrics listed above and, underneath the Glassnode logo, select Ethereum as the asset.

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Conclusion

These new metrics and dashboards represent an important development in on-chain analysis, because they provide a level of granularity for critical metrics that we have not seen before. To access the suite, please get in touch with our institutional team.