Yonsei_dent2024-05-20

<STH Realized Price: Will 61.5k be strong support?>

📌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 53.48% of the total 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 proportion of 1w~6m is 47.78%. (L: Realized Price / R: Realized Cap Dominance) 🟥1w~1m $62.72k / 7.51% 🟧1m~3m $66.09k / 30.06% 🟨3m~6m $43.46k / 10.21% ☑️The weighted average value reflecting their proportion is $61.51k. $61.51k is about 5.09k different from the current price ($66.6k), which has narrowed the gap considerably compared to early April when there was a 9k difference. 🎯Key Point 1) The market share of the 0d~6m cohort is over 53.48%. It can be seen that there has been a significant transfer of volume from LTH to STH. 2) The market share of the 1m~3m cohort increased from 10% to over 30% in two months. These are investors who entered the market during the March rally. 3) Investors are sensitive to the price of STH compared to LTH. 61.5k will act as a strong support and resistance zone. 4) However, if $61.5k collapses strongly, it may turn into strong resistance for a while due to the S/R flip.