Definition. This chart tracks the momentum of coinday destruction by comparing the quarterly average 🔴 of Coin Days Destroyed (CDD) against the yearly average 🔵, plotted over the raw daily CDD series (faint orange) and price (grey). Periods of positive momentum are shaded as yellow columns.

Technical. The two momentum traces are simple moving averages of daily CDD, and the regime band flags their crossover:

• Quarterly Average = sma(CDD, 90) 🔴
• Yearly Average = sma(CDD, 365) 🔵
• Positive Momentum = 1 when the 90D average is above the 365D average (yellow columns)

Interpretation. Due to intraday volatility in on-chain activity metrics, the absolute value of coindays destroyed on any given day can be uninformative. However, comparing the magnitude and trend of coinday destruction on a quarterly and yearly basis is much more informative — the crossovers underline relative shifts in spending behavior and help identify when the tides are turning for lifespan expenditure:

• 90D 🔴 > 365D 🔵 indicates an expansion in coinday destruction, meaning older coins are being spent at an accelerating rate — typical of distribution phases and elevated profit-taking by experienced holders.

• 90D 🔴 < 365D 🔵 indicates a contraction in coinday destruction, meaning old coins are increasingly dormant — typical of HODLing-dominated regimes and accumulation phases.

Notes. This momentum framework was first featured by Glassnode in The Week On-chain newsletter (Week 34, 2022 and Week 43, 2022). Built from Coin Days Destroyed. An entity-adjusted variant is available at Lifespan CDD Momentum (Entity-Adjusted), and the cohort decomposition at Long- and Short-Term Holder CDD.