Active_Realized_Cap
Tech spec
| Field | Value |
|---|---|
| API name (slug) | active_realized_cap |
| Group | cointime statistics |
| Unit / Valuetype | usd / marketcap |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/cointime_statistics |
| Tier | 0 |
| Last updated | 2025-08-25 17:59 UTC |
| Docs | Open in Swagger |
Brief Description: Market capitalization of active coins based on prices at last movement.
Active_Realized_Cap calculates Bitcoin network capitalization using the prices at which coins were last moved, focusing on economically active coins. Active coins are here defined by the cointime economics framework.
Interpretation Rising Active_Realized_Cap values indicate increased fiat inflows into the Bitcoin network, suggesting higher investor confidence. Conversely, declining values suggest Bitcoin is moving out of circulation, potentially reflecting reduced confidence or profit-taking trends.
Advanced Explanation Active_Realized_Cap is computed by dividing the Realized Cap of Bitcoin by Liveliness. This approach considers only economically active coins, excluding dormant or lost supply, to provide a meaningful measure of network capitalization.
The formula can be described as:
Active_Realized_Cap = Realized Cap / Liveliness
Active_Realized_Cap belongs to the Cointime Economics framework for Bitcoin onchain analysis published by James Check and David Puell. References: https://ark-invest.com/white-papers/cointime-economics/ and https://insights.glassnode.com/introducing-cointime-economics/