Definition. The 90-day sum of Coin Days Destroyed by on-chain cohort: Long-Term Holders (blue), Short-Term Holders (red), and the total entity-adjusted aggregate (orange), plotted with price (grey). CDD-90 shows the trend of lifespan expenditure by each cohort over time.

Technical. CDD-90 is calculated as the 90-day rolling sum of entity-adjusted Coin Days Destroyed. This version is supply-adjusted, meaning each cohort's CDD is normalized by the supply held by that cohort to provide an equivalent relative scale over time:

• LTH CDD-90 = sum(LTH CDD / LTH Supply, 90)
• STH CDD-90 = sum(STH CDD / STH Supply, 90)
• Total CDD-90 = sum(Entity-Adjusted CDD / Circulating Supply, 90)

Interpretation. The 90-day window smooths daily destruction into a quarterly trend, and the supply adjustment makes cohorts of very different sizes — and different eras of the supply distribution — directly comparable. Rising LTH CDD-90 marks sustained regimes of old-coin expenditure, characteristic of distribution phases in which long-dormant supply is revived and changes hands. STH CDD-90 tracks the intensity with which young coins are re-spent, and tends to swell during speculative, high-turnover phases. Divergence between the two — for example LTH expenditure climbing while STH activity cools — helps identify which cohort is driving on-chain turnover.

Notes. Built from Entity-Adjusted LTH CDD, Entity-Adjusted STH CDD, Entity-Adjusted CDD, LTH Supply and STH Supply. The daily (unsummed) cohort view is at Long- and Short-Term Holder CDD.