Spent Volume is a key metric that calculates the total volume of digital assets that have been sold, providing a comprehensive view of overall market activity. The Spent Volume by Profit and Loss metric further categorizes this data based on realized profit and loss levels, using Fibonacci retracement levels to provide a nuanced view of the market's sales distribution. This metric is particularly useful for understanding the extent and distribution of both profit-making and loss-making sales across the market, offering insights into how much of the spent volume is concentrated at different profit or loss levels. For example, it can help answer questions like, 'Are most digital assets being sold at specific profit or loss levels, indicating potential zones of market activity?'

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.