STH LTH Median Cost Basis Ratio
Chainlink
This is the ratio of the short-term-holder median cost basis to the long-term-holder median cost basis.
Why it matters
It measures the gap between what recent buyers and conviction holders paid.
How it is built
The STH median realized price is divided by the LTH median realized price.
What to watch
A wide ratio signals recent buyers paying far above old holders — typical of heated, late-cycle markets.