Spent Volume is a metric that calculates the total volume of digital assets sold, providing an insight into the overall market activity. The Spent Volume by Age metric further categorizes this data into different age cohorts, offering a detailed view of the volume of assets sold by holders of supply portions of varying ages. This metric is particularly useful for understanding sales distribution across different age cohorts, from hot supply (newly acquired coins) to cold supply (older, dormant coins). This can help identify periods of increased selling activity among different age cohorts. For example, it can help answer questions like, 'Are older coins being sold more frequently than newer ones?'

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.

This is the Point-in-Time (PiT) variant of Spent Volume 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.