# 實現總市值｜Realized Capitaliztion

## 指標概念 

實現總市值是與總市值（總市場價值）相似的另一種變數，實現總市值根據上次移動的價格對所有UTXO進行估值，而估計其當前價值。它代表了網絡中所有硬幣的已實現價值，而不是它們的市場價值。 實現總市值減少了那些丟失還有長期休眠（長期未移動）的硬幣的影響，並根據它們在鏈上的實際價格進行加權。當最後一次以便宜許多的價格移動的比特幣幣被花費時，實現總市值會重新評估代幣的當前價格，從而將實現的上限增加相應的金額；同樣地，如果比特幣的花費價格低於上次移動時的價格，它將重新估值為更便宜的價格，並相應減少實現總市值。 實現總市值可以被視為資產中儲存價值的指標。因此，該指標可以視為是對對鏈上總成本基礎的估計，並使其成為創建其他指標的重要基礎變數之一。

![圖片來源：Glassnode](https://lh4.googleusercontent.com/GtAjhHtsWrX8ypYs7C104GNOrAAUBiqseMRnfd2jYmEVuHveOJ5ErmmGTlC9wkXTQ9SqOQneCbwitFJ3bFMXh87VCWwTrUZ1Zdea0GBMXjbUu5qjsXbZ94Ec7cSimNmvujqHrZ9S)

## 指標如何衡量、計算？ 

實現總市值 ＝UTXO被創造時的價格（美元）流通供應量


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