Short-Term Holder SOPR (STH-SOPR)
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O tym wskaźniku
Co mierzy
Short-Term Holder SOPR (STH-SOPR) divides the aggregate USD spending value of outputs younger than 155 days by their value when created. This unitless ratio measures the profitability of spent recent coins, with 1 marking aggregate breakeven.
Jak to czytać
A rise above 1 shows recent coins being transferred at a gain, while a decline below 1 indicates realized losses in this younger group. On March 13, 2024 the ratio reached about 1.205, whereas on August 5 that year it fell to about 0.904. The contrast shows how recent holders can shift from profit realization to loss realization within months.
Coin age identifies a statistical group, not the owner's identity or intended holding period. Only outputs spent that day enter the calculation, so STH-SOPR can change even if the profitability of most recent holdings does not. Wallet operations and a changing mix of output sizes also affect the result; the 7-day average gives a steadier view.
- Częstotliwość
- Dziennie (UTC 00:00)
- Aktywo
- BTC
- Kategoria
- Wskaźniki on-chain
- Typ
- Pojedyncza wartość
- Dane od
- 2009-01-12
- Najnowsze dane
- 2026-10-28
- Punkty danych
- 6,248
FAQ
How is STH-SOPR different from STH-MVRV?
STH-SOPR examines profit or loss on recent coins being spent. STH-MVRV compares current price with the average cost of the recent coins still held, measuring paper profitability instead.
Does STH-SOPR below 1 mean every short-term holder lost money?
No. It means the included outputs have a combined spending value below their combined creation value. Some outputs can still be profitable, and unspent holdings are outside this measure.
Why does STH-SOPR usually sit close to 1?
Its coins last moved within roughly five months, limiting the time for price differences to accumulate compared with long-held coins. The full-history median in this series is about 1.002; sustained small deviations can therefore be meaningful without being timing signals.
