Definition. The total volume of coins sold at a loss, segmented by holding-period age cohort. A sale is in loss when 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 loss-making sale volume concentrates across hot-to-cold age cohorts. Answers questions of the form: is the volume of coins sold at a loss greater for older or newer coins?