This metric presents an adjusted variant of Percent Supply in Profit, seeking to discount Inert Supply which has not moved in over 7-years. Given this very old supply was transacted at much cheaper prices, and is likely lost (and thus unlikely to transact), it will result in a gradual upwards drift in metrics like Percent Supply in Profit.

This model has two traces:

• 🔵 Percent Supply in Profit which accounts for all coins in the supply.
• 🟠 Adjusted Percent Supply in Profit, which discounts all coins older than 7yrs from the supply, and assumes they are in profit.

Note: these metrics are presented as a percentage such that a reading of 26 indicates 26% of the relevant supply is in profit.

Hint: A moving average/median can be applied to both variants of metric by changing the moving average applied to the Supply in Profit = m3 metric.

Coined by

This metric was first featured by Glassnode in The Week On-chain Newsletter, Week 41 2022.