Revived Supply Cost Value
Daily USD cost basis (at acquisition) of UTXOs spent - measures the original capital being released by reawakening coins.
What is it?
Revived Supply Cost Value measures, day by day, the USD sum of original cost bases for all UTXOs spent. When a coin acquired at price P_acq is spent today, its contribution to cost value equals P_acq × BTC_quantity. This series answers: how much originally invested capital is being released each day? A massive spike on this series indicates that old cohorts (which accumulated at low prices) are putting a large mass of historical purchase cost back into circulation. The canonical formula comes from industry on-chain standards (adjusted realized capitalization framework).
How to read
A logarithmic USD line with optional BTC price overlay. The higher the line, the more original capital is being spent that day. Compare with #312 Revived Supply Realized: if #312 > #311, revived coins are in profit (realised > acquired). If #312 < #311, they are at a loss. The #312/#311 ratio = instant profit factor of moving coins. Watch for post-halving peaks and deep capitulation phases.
Key zones
Extreme peaks have historically coincided with OG distribution phases (2009-2013 cohorts reawakened in bull markets) or massive capitulations in deep bear markets. A prolonged trough marks a dormant accumulation phase: few old coins move, the network goes quiet. Absolute thresholds depend on the USD scale (which grows structurally with the market).
What to observe
Watch for divergences with BTC price: rising cost value without a price rise may indicate quiet distribution. Cross-reference with #314 Revived Age Dominance to identify which age band drives the volume. Cycle-to-cycle transitions often leave fingerprints: cost value peak in bull market then silence at bear bottom.
Historical context
Structural events that have generated notable spikes: Mt.Gox sales post-2014 (2010-2013 cohorts), post-halving redistribution phases, the FTX collapse (November 2022) with forced liquidations, and the arrival of spot ETFs in early 2024 which triggered waves of OG distribution. Before 2017, cost value remains structurally low because most coins were still young.
Expert notes
For premium analysis, cross-reference Cost Value with average price on the same day: the Cost Value / (BTC spent × spot price) ratio gives the 'cost basis multiple' of moving coins. A multiple < 1 indicates coins acquired well below the current price (likely OG). A multiple > 1 indicates coins acquired above (capitulation late-comers). This metric directly feeds #322 Revived Year Realized PnL for cohort-by-cohort decomposition.
Common mistakes to avoid
Common mistake: interpreting a cost value spike as automatically 'bearish'. A high cost value may reflect simple internal rotation (consolidated UTXOs without genuine ownership change). Always cross-reference with #313 Revived Supply Total (in BTC) to verify the actual volume order of magnitude. Cost value rising without a corresponding BTC count rise = ambiguous volume indicator.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/revived-supply-costvalue/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "revived-supply-costvalue",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
Related metrics
Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.