Indicator Overview

The indicator tracks the Year-over-Year (YoY) percentage change of the Realised Capitalisation. The Realised Cap is the aggregate cost basis of all coins in circulation. Therefore, this indicator measures the annual rate of capital inflow into the asset, reflecting how quickly new capital is being put to work by investors. It is less volatile than the simple price YoY Delta, making it an excellent indicator for identifying sustained cyclical momentum.

How To Use

The Realised Cap YoY Delta is a powerful tool for identifying market cycle transitions based on capital flows. When the reading is negative (deep red), it signifies a period where the net capital leaving the system is greater than the net capital entering over the year, indicating bear market capitulation and strong value accumulation zones. Yellow/green readings signal high capital growth and are typically associated with strong bull market momentum, indicating phases of aggressive network valuation expansion. It confirms bull market health through continuous, substantial capital inflow.