{"path":"/breakdowns/sopr_by_wallet_size","tier":3,"parameters":{"a":["TON"],"c":["native"],"f":["csv","json"],"i":["10m","1h","24h"]},"queried":{"a":"TON","path":"/v1/metrics/breakdowns/sopr_by_wallet_size"},"refs":{"docs":"https://docs.glassnode.com/basic-api/endpoints/breakdowns#get-v1-metrics-breakdowns-sopr_by_wallet_size","studio":"https://studio.glassnode.com/charts/breakdowns.SoprByWalletSize","metric_variant":{"bulk":"/breakdowns/sopr_by_wallet_size/bulk","pit":"/breakdowns/sopr_by_wallet_size_pit"}},"bulk_supported":true,"timerange":{"min":1573822200,"max":1793993400},"modified":1793994850,"descriptors":{"name":"SOPR by Wallet Size","short_name":"SOPR by Wallet Size","group":"SOPR","tags":["on-chain","valuation","profit_loss","realized_profit_loss","cohorts"],"description":{"default":"**Definition.** Spent Output Profit Ratio (SOPR) computed separately for each wallet-size cohort, where SOPR is the ratio of sale price to acquisition price across coins spent on a given day. Cohorts span from whales to retail investors based on native-asset balance. [Spent Output Profit Ratio (SOPR)](https://studio.glassnode.com/metrics?a=BTC\u0026m=indicators.Sopr) is the related base variant without segmentation.\n\n**Technical.** Breakdowns use an [address-based approach](https://research.glassnode.com/account-based-metrics/), 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. An address's wallet-size band is set by its balance before the spend. SOPR uses each address's average acquisition price as cost basis. For BTC, ETH and ETH tokens, spends are netted per address per block, which removes change; for DOGE, TRX, XRP, TON and TON tokens, all transfers are counted. For ETH tokens, burn addresses are excluded.\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 differs across investor classes, from whales down to retail. Answers questions of the form: are larger wallets (whales) selling their coins at a profit more frequently than smaller wallets (retail investors)?\n"},"data_sharing_group":"onchain"}}