On-Chain Metrics

BONK STH:LTH Median Cost Basis Ratio

Bonk on-chain: Median-based companion to the STH:LTH Realized Price Ratio. Divides STH median cost basis by LTH median cost basis, ratio > 1 means fresh buyers paid more than veterans (bull / distribution regime), < 1 means fresh buyers are getting better prices than long-term holders (accumulation regime). Using medians makes the signal robust to whale and ancient-supply distortion that drags the mean version.