Definition. Entity-Adjusted Coin Years Destroyed is the 365-day rolling sum of Coin Days Destroyed (CDD), the amount of coin days destroyed over the trailing year, computed on the entity-clean spending stream.

Technical. This version is entity-adjusted, meaning that transactions within addresses controlled by the same network participant are discarded.

Interpretation. CYD is indicative of long-term holder behaviour.

Notes. First put forward by ARK Invest. For more information on entity-adjustment and account-based metrics, read our articles here and here.

This is the Point-in-Time (PiT) variant of Entity-Adjusted CYD. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.