On August 26th, CoinMetrics data showed that Bitcoin's "realized cap" has exceeded $10 billion. Nic Carter, a partner at Castle Island Ventures, said that “realized market capitalization” roughly (but not perfect) measures the average cost basis of Bitcoin holders. It considers the price of a bitcoin that ends with a change (rather than being treated like a market value). As an indicator of economic importance, I prefer “realized market value” rather than “market value”. Because the latter will also include 15-20% of the bitcoin that may be permanently lost. According to estimates of “realized market capitalization”, Bitcoin has reached a record high of more than $10 billion (but much smaller than the peak market value of $300 billion). Note: For the stock market, Market Cap = number of issued shares * value of each stock in the exchange. However, considering the factors such as the cryptocurrency online and the issuance time of the currency on multiple trading platforms, the realized value (Realized Cap) can be measured by accumulating the last transaction price of each token multiplied by the number of transactions. Encrypted currency.