Definition. The Bitcoin network has been active since the genesis block on 3-Jan-2009, and over that time, coins have been mined, lost, bought, and sold. As investors accumulate and store (or lose) coins for longer periods of time, we can categorise them based on how long it has been since they last moved on-chain. This chart displays an overlay of multiple Supply Last Active variants, each shown as a percentage of Circulating Supply:

• Supply Last Active 1+ Yrs Ago 🔴
• Supply Last Active 2+ Yrs Ago 🟠
• Supply Last Active 3+ Yrs Ago 🟢
• Supply Last Active 5+ Yrs Ago 🔵

Technical. Each trace is the corresponding native age-threshold metric, expressed as a percent of circulating supply. The bands are cumulative thresholds, not disjoint ranges — every coin counted in the 5y+ trace is also counted in the 1y+ trace. Price is shown in grey for reference.

Interpretation. As coins are accumulated by longer-term investors, these metrics will tend to rise — extended periods of climbing age bands are characteristic of accumulation phases and HODLing behavior dominating. Conversely, as long-term investors spend and distribute their coins, these metrics decline, with older coins becoming young again as they change hands; sustained down-turns in the older bands have historically accompanied late bull-market distribution. Comparing the spread between thresholds shows where in the age spectrum supply is concentrating.

Notes. This metric will naturally drift higher due to the growing share of coins held for a very long time or lost (loss of access to private keys). Built from Supply Last Active 1+ Years Ago, 2+ Years, 3+ Years and 5+ Years. See also the young end of the spectrum in Supply Last Active < 6m and the oldest coins in Ancient Supply Last Active 5yr+.