Realized Cap - UTXO Age Bands USD distributes the total Realized Capitalization across cohorts defined by how long each UTXO has remained dormant, displaying the USD-denominated cost basis held within each age band - from recently transacted outputs to supply that has remained unmoved for multiple years. Each band represents the aggregate realized value of UTXOs last moved within a specific time window, priced at the point of their last on-chain transaction.
This metric provides a granular view of where capital is concentrated across different holder cohorts and at what cost basis. When older age bands represent a large and growing share of total Realized Cap, long-term holders are carrying a significant portion of the network's aggregate cost basis - reflecting deep conviction and supply that is unlikely to move at current prices. When younger bands expand rapidly, fresh capital is entering the market at current prices, shifting the realized cap distribution toward more recent, higher-cost basis holders.
Shifts in band composition relative to current market price reveal which cohorts are in profit or loss, how capital has rotated between short and long-term holders across cycle phases, and where structural support or resistance in realized value terms is concentrated - making it one of the most comprehensive on-chain tools for understanding the cost basis landscape of the market at any point in time.
