SOPR

SOPR (Spent Output Profit Ratio) - one of the market indicators that reflects whether coins are currently being sold at a profit or loss.

SOPR is calculated as follows:

1. Consider the coins sent on-chain during the time period under consideration.

2. Take their total value at the time of sending.

3. Divide by their total value at the time of receiving.

Thus, SOPR is equal to the ratio of the sale value of the traded coins to their value when they were purchased.

$$SOPR = \frac{\sum \text{value} \ \cdot \ \text{price}_{\text{selling}}}{\sum \text{value} \ \cdot \ \text{price}_{\text{purchasing}}}$$

SOPR in Profit / Loss are two SOPR metrics calculated only for coins that are currently trading in profit and loss respectively. These metrics allow you to understand how much the cost of selling coins differs from the cost of buying them separately for profitable and losing coins.