Entity-Adjusted Long-Term Holder Realized Profit

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Entity-Adjusted Long-Term Holder Realized Profit totals the USD gains attributed to the long-term holder cohort on transfers between distinct entities above acquisition cost. The cohort generally represents holdings around 155 days or older, with identified internal wallet movements filtered out.

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Increasing profit shows more accumulated gains being recognized by longer-held capital, which can reflect older supply changing hands. The series reached about $1.04 billion on December 12, 2017, and $4.52 billion on July 17, 2025. Falling values indicate less profit realization, not necessarily a decline in the cohort's unrealized gains.

Older coins can have very low costs, so a few large movements can dominate the dollar total. Cohort assignment and entity estimates change over time, and transfers need not be sales. This is a flow of recognized gains, not a measure of the long-term holder supply remaining.