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.

This is the Point-in-Time (PiT) variant of Addresses in Loss by Age. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.