This metric displays the percentage of Short-Term Holder on-chain transfer volume in proportion to the total supply held by this cohort.

Periods where a large proportion of the held supply transact typically occur around high volatility events such as major sell-offs, and during oversupply events near market tops.

• 🟢 Presents the volume of STH spent volume which is in profit as a proportion of total STH supply.

• 🔴 Presents the volume of STH spent volume which is in loss as a proportion of total STH supply.