Definition. The total realized loss, segmented by holding-period age cohort. Realized loss is the summed difference between acquisition price and sale price across all spent coins where the sale price was lower than the acquisition price. Cohorts span from hot supply (most recently acquired) to cold supply (long-dormant coins).

Technical. Breakdowns use an address-based approach, analyzing transactions and holdings at the wallet-address level to keep results comparable across digital assets and consistent across different blockchain architectures. This contrasts with the UTXO-based approach available for some chains (e.g. Bitcoin), and cross-method comparisons may show small deviations.

Interpretation. Surfaces how realized losses concentrate across hot-to-cold age cohorts. Answers questions of the form: is total realized loss greater for hot or cold supply?