SOPR (Spent Output Profit Ratio)
Compares, for the coins moving today, the price they're sold at against the price they were bought at — averaged across the day's movements.
Why it matters
Above 1, coins are being sold at a net average profit; below 1, at a net average loss. It tends to turn near local capitulations (bottoms) and euphoria (tops). Its creator, Renato Shirakashi (2019), observed that the SOPR = 1 level tends to act as support when approached from above during uptrends, and as resistance when approached from below during downtrends — not just a profit/loss threshold, but a psychological level the market often reacts to.
Build it yourself
One day, one ratio: what was sold today against what it cost when it was created.
Illustrative example numbers for practice — not real data.
How it's calculated, step by step
- While scanning each block, the project walks every spent input: it looks at its USD value at TODAY's price (spend value) and its USD value at the price on the day that output was created (creation value).
- Those two sums are accumulated per day in
sopr_daily_agg(spend_value_usd,creation_value_usd). - SOPR = the day's accumulated spend value ÷ its accumulated creation value.
Chart
This is real Bitcoin data, computed from the blockchain — not the illustrative example above.
Data last updated on 2026-09-09.