The realized market capitalization of Bitcoin recently hit an all-time high, as per data from crypto metrics site Glassnode.
The largest cryptocurrency by market cap, Bitcoin touched an all-time high of one hundred and twenty five billion USD in realized market capitalization, a surge of nearly ten billion USD in a month, as per data from virtual currency metrics site Glassnode. The development comes as BTC recently reached a level of around fifteen thousand nine hundred and fifty USD, its uppermost price since the end of the 2017 Bitcoin bubble.
It is to be noted that the realized market capitalization is a measure initially formulated by data analytics firm Coin Metrics. The metric tries to calculate how large the active market cap for Bitcoin is. As per Coin Metrics, there is no point in taking into account an enormous amount of the crypto asset that hasn’t been traded for a long time.
In order to calculate ‘realized capitalization’, Coin Metrics assigns time-sensitive values to every token. For instance, if a token last traded in 2018 when the price was around six thousand USD, then to give a precise representation, that token is required to be priced at six thousand USD instead of today’s price.
However, at the time of reporting, BTC is changing hands at around 15,523 USD with a 24-hour volume of over 30 Billion USD. In the last 24 hours, BTC is up by 1.85% with a market cap of over 287 Billion USD.
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