{"path":"/breakdowns/mvrv_by_age","tier":3,"parameters":{"a":["BONK"],"c":["native"],"f":["csv","json"],"i":["10m","1h","24h"]},"queried":{"a":"BONK","path":"/v1/metrics/breakdowns/mvrv_by_age"},"refs":{"docs":"https://docs.glassnode.com/basic-api/endpoints/breakdowns#get-v1-metrics-breakdowns-mvrv_by_age","studio":"https://studio.glassnode.com/charts/breakdowns.MvrvByAge","metric_variant":{"bulk":"/breakdowns/mvrv_by_age/bulk","pit":"/breakdowns/mvrv_by_age_pit"}},"bulk_supported":true,"timerange":{"min":1670531400,"max":1782502200},"modified":1782505976,"descriptors":{"name":"MVRV by Age","short_name":"MVRV by Age","group":"MVRV","tags":["on-chain","valuation","cohorts","profit_loss","unrealized_profit_loss"],"description":{"default":"**Definition.** Market Value to Realized Value (MVRV) ratio segmented by holding-period age cohort. MVRV compares market capitalization (current market value) to realized capitalization (the value of coins when they last moved). The by-age decomposition computes a separate ratio per cohort, exposing the aggregate unrealized profit or loss carried by short-term versus long-term holders.\n\n**Technical.** Breakdowns use an address-based approach, analyzing transactions and holdings at the wallet-address level to facilitate comparability across digital assets and to ensure consistent analysis across various blockchain architectures. This contrasts with the alternative UTXO-based approach for chains like Bitcoin, where unspent transaction outputs are analyzed to categorize asset properties. Metrics for UTXO-based assets may show slight deviations if compared across these different computational methods.\n\n**Interpretation.** A cohort reading above 1 places that age band in aggregate unrealized profit, a reading below 1 places it in aggregate unrealized loss. Surfaces how unrealized valuation differs between long-held and recently-moved coins. Answers questions of the form: are older coins being held at a higher relative valuation than coins that recently changed hands?\n"},"data_sharing_group":"onchain"}}