{"path":"/breakdowns/sopr_by_lth_sth","tier":3,"parameters":{"a":["ETH"],"c":["native"],"f":["csv","json"],"i":["10m","1h","24h"],"network":["aggregated","arb","base","eth","opt"]},"queried":{"a":"ETH","path":"/v1/metrics/breakdowns/sopr_by_lth_sth"},"refs":{"docs":"https://docs.glassnode.com/basic-api/endpoints/breakdowns#get-v1-metrics-breakdowns-sopr_by_lth_sth","studio":"https://studio.glassnode.com/charts/breakdowns.SoprByLthSth","metric_variant":{"bulk":"/breakdowns/sopr_by_lth_sth/bulk","pit":"/breakdowns/sopr_by_lth_sth_pit"}},"bulk_supported":true,"timerange":{"min":1438918200,"max":1782504600},"modified":1782505956,"descriptors":{"name":"SOPR by LTH/STH","short_name":"SOPR by LTH/STH","group":"SOPR","tags":["on-chain","valuation","profit_loss","realized_profit_loss","cohorts","long_term_holder","short_term_holder"],"description":{"default":"**Definition.** Spent Output Profit Ratio (SOPR) computed separately for long-term holder (LTH) and short-term holder (STH) cohorts, where SOPR is the ratio of sale price to acquisition price across coins spent on a given day.\n\n**Technical.** Long-term and short-term holder supply is defined with respect to the entity's average purchasing date, with weights given by a logistic function centered at an age of 155 days and a transition width of 10 days. Breakdowns use an address-based approach, analyzing transactions and holdings at the wallet-address level to keep results comparable across digital assets and consistent across different blockchain architectures. This contrasts with the UTXO-based approach available for some chains (e.g. Bitcoin), and cross-method comparisons may show small deviations.\n\n**Interpretation.** Cohort readings above 1 mean the average coin spent by that cohort was sold at a profit, readings below 1 mean it was sold at a loss. Surfaces how the profitability of sales splits between long-term and short-term holders. Answers questions of the form: are long-term holders selling their coins at a profit more frequently than short-term holders?\n"},"data_sharing_group":"onchain"}}