Category
On-chain Metrics
SOPR, MVRV, NUPL, active addresses, exchange flows — what actually happens on the blockchain.
Guides (3)
How to Read BTC Holder Behavior on Exum
A practical order for reading regime, SOPR, cohorts, RHODL, and VDD without treating the desk as a buy/sell button.
How to Read SOPR — A Practical Guide
A no-nonsense playbook for reading SOPR on real charts — what levels matter, which variant to pick, and the traps to avoid.
Reading On-Chain Metrics — A 15-Minute Orientation
A fast overview of the on-chain indicators that actually move markets — what they are, what they show, and how to layer them into a coherent read.
Glossary (14)
Active Addresses
Count of unique addresses participating in on-chain transactions within a time window. A proxy for network usage.
Bitcoin Holder Behavior — Wallet Flows
A BTC-only desk that reads how holders realize profit, move old coins, and heat the cycle — with a daily regime label, not a buy/sell call.
Exchange Flows
Net coins moving onto or off centralized exchanges. Big inflows = potential sell pressure, big outflows = accumulation.
Holder AI Brief — On-Chain Narrative (BTC)
Pro turns today's holder regime snapshot into plain bullets — same deterministic data as the lab, explained by AI, quota-limited.
Holder Regime — On-Chain State Label
A daily label (accumulation, distribution, mixed, etc.) built from SOPR, cohorts, RHODL, VDD, and MVRV — deterministic rules, not AI.
MVRV — Market Value to Realized Value
Ratio of market cap to realized cap — signals whether a crypto asset is overheated or undervalued relative to its historical cost basis.
NUPL — Net Unrealized Profit/Loss
Share of unrealized profit or loss sitting in the market, normalized by market cap — a classic greed and fear indicator.
Realized Price
Aggregate cost basis of the market — the average price at which coins last moved on-chain.
Regime Watch — Alerts on Regime Change
Pro+ toggles a daily check — when the stored BTC holder regime changes, Exum can fire a Smart Alert (if your plan includes alert slots).
RHODL Ratio — Cycle Heat
Compares young vs old coin economic weight — when it runs hot, late-cycle enthusiasm often builds; when cool, the market is calmer.
SOPR — Spent Output Profit Ratio
Ratio of the price at which coins are sold to the price at which they were last bought — are holders taking profit or capitulating?
STH / LTH — Short-Term vs Long-Term Holders
Coins are split by how long they've been held — under ~155 days (STH) vs longer (LTH). Who spends tells you if flippers or veterans drive the move.
VDD — Value Days Destroyed
Spikes when old coins move in size vs a yearly norm — often seen around distribution or macro turns, not everyday noise.
Whale
An address holding enough of an asset to move the market when it transacts.