Definition. The Short-Term Holder Cost Basis Distribution (CBD) Heatmap is a price-versus-time visualization of STH supply density across cost-basis levels over a specified period (e.g. 1 month, 1 year). The y-axis represents the cost basis on a log scale, set from 1% below the minimum price to 1% above the maximum price within the chosen period, and each pixel's color intensity reflects the concentration of STH supply at that price level.

Technical. All CBD metrics use an address-based approach, analyzing holdings based on individual wallet addresses for consistency across digital assets and comparability across blockchain architectures. This contrasts with the UTXO-based approach used in metrics like URPD, which categorizes supply based on unspent transaction outputs and is typically used for chains like Bitcoin, so metrics for UTXO-based assets may show slight differences across these distinct computational methods.

Interpretation. Dense bands identify price levels where significant portions of STH supply were acquired, informing where recent cohort acquisition may act as support or resistance.