Spent Volume by Holding Period
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- ValueValue
- ShareShare
About this metric
What it measures
Spent Volume by Holding Period adds up the BTC in outputs spent each day and assigns them to 12 bands according to time since their previous on-chain move. Bands range from <24h to >10y, and Total includes spending at a profit, at a loss and near breakeven.
How to read it
A broad increase across young bands indicates faster turnover; isolated strength in an older band reveals dormant supply returning to circulation. The 7y–10y series reached about 138,027 BTC on May 28, 2024, its historical high, while the overall Total peaked at about 7.99 million BTC on July 30, 2017.
A transfer resets output age even when ownership stays the same. Exchange reshuffles, consolidation and repeated movements can inflate volume, so the chart does not measure sales or unique coins; compare an old band's activity with its available supply before judging its significance.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Cohorts
- Type
- Breakdown
- Unit
- BTC
FAQ
How does spent volume by age differ from HODL Waves?
Spent volume records the coins that moved during a day, in BTC. HODL Waves describe the age shares of coins still held at a point in time, including those that did not move.
Is this the same as Coin Days Destroyed?
No. This chart assigns BTC to age bands without multiplying by age. Coin Days Destroyed multiplies each spent amount by the days it remained unmoved, giving old coins much greater weight.
Does Total count each bitcoin only once per day?
Not necessarily. Spending is summed across outputs, so coins that move repeatedly can contribute volume more than once; it is a measure of activity rather than distinct circulating supply.
