Profit/Loss

Measures the proportion of market capitalization that is in unrealized profit or loss.

Formula

N U P L = U n r e a l i z e d P r o f i t U n r e a l i z e d L o s s M a r k e t C a p NUPL = \frac{UnrealizedProfit - UnrealizedLoss}{MarketCap}

Interpretation

  • Positive NUPL → majority of holders in profit.

  • Negative NUPL → market under stress or fear.

Available Metrics