![Realized cap could be the new benchmark for measuring Bitcoin’s value](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/03/bitcoin-Insights-2.jpg&w=70&h=37&q=75)
Quick Take
- Bitcoin realized cap is currently sitting around 60% from roughly 50% last year, and it’s 20% higher than in 2018.
- Realized cap gives a much more accurate version of events as it substituted the current token price with the price when the token last moved.
- In addition, it filters out founder coins, and if a token has never moved, its realized price is zero.
- While Bitcoin market cap dominance currently sits below 48%, a vast difference from the realized cap dominance.
- CryptoSlate did a thorough analysis of realized cap vs. market cap both from an all-time high drawdown and report.
![Bitcoin market cap dominance: (Source: Trading View)](https://cryptoslate.com/wp-content/uploads/2023/03/mc.png)
![Realized Cap: (Source: Coin Metrics)](https://cryptoslate.com/wp-content/uploads/2023/03/RC.png)
Disclaimer: The TRX_ETH metric is only for the ERC-20, so it isn’t fully representative of the actual market cap and we have had issues with both BNB and DOT nodes, so the metrics aren’t fully updatedย (CoinMetrics)