Definition. Young coins are usually classified as coins which have transacted in the last 3-to-6 months. This supply is unlikely to be lost, and is actively participating in the day-to-day trade of the Bitcoin economy. The chart shows Supply Last Active < 6-months in absolute terms (dark blue), and as a percent of circulating supply (light blue).

Technical. The young-supply trace aggregates the granular Supply Last Active age bands below six months into a single series, which is then divided by Circulating Supply for the percent variant. Price is shown in grey for reference.

Interpretation. Younger coins can be seen to typically swell in volume during two key events:

• Bull markets, as longer-term investors spend and divest into market strength.

• Capitulation sell-off events, where widespread panic brings coins of all ages back into liquid circulation.

A significant increase in young coin volumes indicates more supply is actively transacting within the on-chain economy, and may lead to an overwhelming of demand. Conversely, long periods of accumulation result in more coins taken into cold storage, reducing supply immediately available on the market.

Notes. Built from the sub-6-month Supply Last Active age-band metrics and Circulating Supply. This differs from Short-Term Holder Supply, which applies a smoothed ~155-day threshold to entity-adjusted supply — internal and exchange transfers do not refresh coin age there, so STH supply runs materially lower. The complementary old end of the spectrum is charted in Supply Last Active 1yr+ Age Bands; the closely related Young/Old supply split is charted in Young Supply Last Active < 6m and Old Supply Last Active > 6m.