Crypto market data aggregator Glassnode has published data indicating that Bitcoin’s (BTC) realized capitalization has increased by more than 50% since tagging its all-time high of $20,000 at the end of 2017.
The realized capitalization metric measures the value of each BTC when it was last moved on-chain, which enables analysts to estimate the aggregate cost-basis of market participants.
However, coins on centralized exchanges are absent from the metric, indicating the data is probably…
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