This metric shows the proportion of active holders who are increasing their positions versus those decreasing them, focusing exclusively on holders who changed their balance. It’s calculated by dividing the number of holders who increased their balance by the total number of holders who changed their balance in either direction.

Ratios above 50% indicate net accumulation behavior among active holders. For instance, a 75% ratio means that among holders who adjusted their position, 3 out of 4 chose to accumulate more.

It highlights whether the active holder base is expanding or contracting, and can serve as a proxy for sentiment—where higher ratios may suggest bullish momentum, and lower ratios may indicate distribution or profit-taking.

Based on: Glassnode Studio Chart – Holder Retention

Further reading: Glassnode Insights – Understanding Retention