Definition. The number of unique addresses currently in loss, segmented by holding-period age cohort. An address is in loss when the current price is below its average acquisition price. Cohorts span from hot addresses (coins acquired more recently) to cold addresses (older, dormant coins).

Technical. Breakdown metrics use an address-based approach, analyzing transactions and holdings at the individual wallet-address level to facilitate comparability across digital assets and to ensure consistent analysis across blockchain architectures. This contrasts with the UTXO-based approach used for chains like Bitcoin, where unspent transaction outputs are analyzed to categorize asset properties. Metrics for UTXO-based assets may show slight deviations when compared across these methods.