LTH SOPR applies the SOPR calculation to older spent supply. It keeps the same profit-versus-cost-basis logic as aggregate SOPR, but spent outputs are weighted into the long-term side of the holder split using a soft transition centered around 155 days.
High readings show mature coins being spent well above cost basis, often when older supply rotates after a strong advance. Readings near 1 or below it carry more weight than in STH SOPR because older coins usually have wider cost-basis gaps. SOPR and STH SOPR are the direct cohort context.
LTH SOPR is less about local break-even churn and more about mature-holder behavior. A small amount of old supply can move the ratio sharply because embedded gains are often large. Realized Profit gives gross USD magnitude; LTH SOPR keeps relative profitability.
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