Spent Volume in Loss is a metric that calculates the total volume of digital assets sold at a loss, meaning the sale price was lower than the acquisition price. The Spent Volume in Loss by Age metric further categorizes these volumes into different age cohorts, providing a detailed view of the volume of assets sold at a loss by holders of supply portions of varying ages. This metric is particularly useful for understanding the distribution of loss-making sales across different age cohorts, from hot supply (newly bought coins) to cold supply (older, dormant coins). For example, it can help answer questions like, 'Is the volume of assets sold at a loss greater for older or newer coins?'

Note: The breakdown metrics utilize an address-based approach, analyzing transactions and holdings based on individual wallet addresses to facilitate comparability across digital assets and to ensure consistent analysis across various blockchain architectures. This contrasts with the alternative UTXO-based approach for chains like Bitcoin, where unspent transaction outputs are analyzed to categorize asset properties. As such, metrics for UTXO-based assets may show slight deviations if compared across these different computational methods.