Analyzing ETH vs SOL through the lens of "Realized Price": ETH: current realized price = $1,974 SOL: current realized price = $129 What's it telling us? Realized Price = a proxy for the cost basis of all tokens in circulation (measured by the price of the token the last time it was moved onchain). [It does not factor in the ETFs for ETH or tokens held on centralized exchanges, roughly 17.4% for ETH] --- - At current market values, on average, ETH holders are sitting on unrealized losses of 9%. - If ETH were to get back to all-time highs, the avg. holder would be up 1.4x. - At current market values, on average, SOL holders are sitting on unrealized gains of 15.5%. - If SOL were to get back to all-time highs, the avg. holder would be up 1.2x. --- On a relative basis, realized price is a good tool for analyzing assets that may be mis-priced. For reference, BTC's realized price is currently $44,400 (holders sitting on unrealized gains of 115% on average). Data: powered by @glassnode