According to BlockBeats news on June 17, based on Alphractal data, currently over 20,000 Bitcoin addresses hold a value exceeding $10 million, totaling approximately $200 billion, which accounts for nearly 9.43% of the total BTC supply and over 21% of the 'Realized Cap.'
The logic of 'Realized Cap' operates on the principle that when BTC is transferred into a wallet, it is considered a 'buy,' and when transferred out, it is considered a 'sell.' By calculating the average cost basis of each wallet multiplied by the holding amount, the total 'Realized Cap' of the entire network can be obtained. This metric reflects the total amount of capital that has entered the Bitcoin market through real on-chain activities.
