SOPR by Holding Period
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
About this metric
What it measures
SOPR by Holding Period divides the USD spending value of each age group's coins by their USD value at the previous on-chain move. It covers only coins spent that day, classified by age before spending, and shows unitless ratios from <24h to >10y plus Overall.
How to read it
Above 1 means a band's spent coins moved at an aggregate gain; below 1 means an aggregate loss. The <24h series has a historical median of 1, while 1y–2y has a median near 2.05, illustrating the much wider cost gaps possible in older supply. A rise in an old band can reveal gains invisible in a near-flat Overall.
A large multiple says nothing about how much BTC moved: a handful of very cheap old coins can create an extreme ratio. Bands with no qualifying spending have no meaningful return to measure, and wallet reshuffles reset age without necessarily changing ownership. The log scale accommodates very large old-coin ratios; cohort ratios are not additive.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Cohorts
- Type
- Breakdown
- Data since
- 2009-01-12
- Latest data
- 2026-10-27
FAQ
Why can old-coin SOPR reach thousands or more?
The denominator can be a tiny cost from Bitcoin's early price history. For example, >10y reached about 1.16 million on April 9, 2021; that is a value multiple, not a BTC amount or percentage share.
How is SOPR by age different from Realized Price by age?
SOPR measures returns on coins that move during the day. Realized Price measures the average last-move cost of the unspent coins remaining in each age group, including those that did not move.
Can the age-band SOPRs be averaged to obtain Overall?
Not with a simple average. Overall divides all spending value by all original cost, so each band's weight is its share of the original cost of the coins spent.
