Yonsei_dent2024-04-04

<STH Cost Basis viewed through UTXO Age Bands>

📌Short-Term Holder: Let’s look at the actual Realized Price of STH, reflecting the proportion of Realized Cap. This includes cohorts from 0d to 6m, accounting for 52.26% of Realized Cap. 📃 The 0d~1w cohort accounts for 10.6% and was excluded from the data as there is no significant difference from the spot price. The dominance of 1w~6m is 41.63%. (L: Realized Price / R: Realized Cap Dominance) 🟥1w~1m $68.07k / 20.19% 🟧1m~3m $50.3k / 13.94% 🟨3m~6m $37.96k / 7.50% ☑️The weighted average value reflecting their proportion is $57.05k. $57.05k is about 9k different from the current price ($66.0k), which is a significant gap compared to just before the October rally. 🎯Key Point 1) The market share of the 0d~6m cohort is over 52%. The market is moving actively. 2) The 1w-1m cohort has continued to increase since October and has grown explosively since March. However, since the 3m-6m cohort did not increase significantly, the current demand is interpreted as short-term speculative demand of less than 3 months. 3) Therefore, the 1w~3m cohort will react sensitively to price changes. Realized price for only two cohorts is 60.7k. 4) $60.7k and 57.05k will act as support zones and the support wall at $57k will be more solid.