Definition. The total volume of coins sold at a loss, segmented by wallet-size cohort. A sale is in loss when the sale price was lower than the acquisition price. Cohorts span from whales to retail investors based on native-asset balance. Spent Volume in Profit by Wallet Size is the profit counterpart, and Spent Volume by Wallet Size is the total.

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. An address's wallet-size band is set by its balance before the spend. Profit and loss are measured against each address's average acquisition price. For BTC, ETH and ETH tokens, spends are netted per address per block, which removes change; for DOGE, TRX, XRP, TON and TON tokens, all transfers are counted. For ETH tokens, burn addresses are excluded.

Interpretation. Surfaces how loss-making sale volume concentrates across investor classes, from whales down to retail. Answers questions of the form: are larger wallets (whales) selling their coins at a loss more frequently than smaller wallets (retail investors)?