URPD Realized Value
Realized Value per price bucket (cost basis multiplied by supply), expressing the distribution in USD rather than BTC.
What is it?
URPD Realized Value decomposes Bitcoin Realized Cap (sum of supply × cost basis) as a histogram per price bucket. Each bar represents the dollar value lodged at a given price level (bucket cost basis × supply held by the bucket). Unlike cohort URPD (Y axis = supply in BTC), the Y axis here is in USD: this reveals capital concentration rather than unit concentration.
How to read
The horizontal axis carries USD price buckets (log recommended). The vertical axis carries USD realized value per bucket (compact formatted M/B for million/billion). The integral sum of all buckets equals the total Realized Cap. High USD peaks are not always high BTC peaks: a high-price bucket with few BTC can mobilize more capital than a low-price bucket with many BTC. The Trinity rendering stacks two panels: BTC price on top (log scale + selected-date marker), URPD histogram on bottom with green/red colored bars based on position relative to spot, `% cumulative` line on the inner right axis, vertical spot marker on the X axis, and an on-canvas statistics panel displaying total and profit/loss breakdown.
Key zones
Buckets concentrating the most realized value represent levels where institutional or wealthy retail capital is stored. These levels are historically the most defended during pullbacks because their liquidation would massively move the aggregate balance sheet. Conversely, buckets with low realized value despite high BTC supply indicate low-price retail distribution.
What to observe
Observe the contrast between BTC distribution (urpd-cohort-sth/lth) and USD distribution (this chart): (1) If USD distribution concentrates on few buckets while BTC spreads out, the market is dominated by a few large buyers at high cost basis. (2) If USD spreads while BTC concentrates, the market is more democratised. (3) Migration of USD peaks upward over time = rotation to more capitalised buyers. To explore this chart in institutional mode : the default **Minimal** mode maximises data legibility (compact stats + period presets 1D/7D/1M/3M/6M/1Y/Now + precise date picker). The **⚙️ Expert** button reveals advanced tools : **🎯 Highlight profit** toggle (dims loss BTC to emphasise the support profit zone), **🔍 Hide outliers** toggle (hides the top 1% extreme spikes to zoom on the main distribution), and the clickable historical events bar with badges (▲ cycle tops, ▼ bottoms, ⚡ macro shocks). The **📊 Compare** button opens a second date picker and renders a delta summary card between the 2 snapshots (supply change, profit zone, top accumulation and top distribution per price bucket). The **📥 Export** button offers PNG (all tiers, with trinityinsights.io watermark + logo + copyright) and CSV (Performance+ only, with traceability metadata : slug, date, spot, mode, locale, generation timestamp). Keyboard shortcuts : A/D navigate dates, W/S toggle BTC↔USD, 1-7 select presets, R returns to latest snapshot, ? opens full help. The X axis carries the **acquisition price (USD)** and the inner right line shows the **% BTC cumulative** (cumulative share of BTC below each price level). The URL retains full state for sharing (`?date=YYYY-MM-DD&w=BTC|USD&expert=1&compare=YYYY-MM-DD`).
Historical context
Successive institutional arrivals have produced realized-value spikes on high-price buckets, detached from the historical retail profile. This bifurcation durably transforms URPD Realized Value by adding a visible institutional concentration.
Expert notes
Realized value is by construction less volatile than BTC supply because it only moves when UTXOs move. URPD Realized Value peaks are markers of capital not only present but locked at that level.
Common mistakes to avoid
Do not equate high realized-value buckets with a floor: realized value measures the amount of capital at a level, not the reactivity of holders to defend it. Active reading requires crossing with URPD STH/LTH cohorts to identify who holds this capital.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/urpd-realized-value/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "urpd-realized-value",
"timeframe": "1y"
}Required tier: performance. 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.