G’day Folks,

If you earned $1 per second, it would take you 31,710 years to earn $1 Trillion.

In my opinion, Realised Cap is the most important fundamental metric in the Bitcoin market, and the principle tool I use to assess Bitcoin adoption.

Since the Realised Cap values every coin at its last transacted price, it is one of the most robust tools to measure how much capital is flowing into, out of, or stored within Bitcoin.

All the UTXOs we have accumulated in prior years are still saved at the approximate price we acquired them at. Folks who stacked the 2022 bottom, still have a pricestamp of $15k-$16k, and reflect the dollar value hardcore HODLers stored in Bitcoin when the night was darkest.

Bitcoiners have now entrusted over $1 Trillion worth of their proof-of-work, earned in whatever profession they hold, to the most robust and resilient monetary network ever conceived.

Absolutely, f**king awesome.

Given this is a special day for onchain analysis nerds like myself, I figured I’d throw in a bonus market update for the week, specifically revisiting some of the volume metrics from A Very Quiet ATH.

📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.

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