Definition. Hodled or Lost Coins indicates moves of large and old stashes, expressed as a coin count. It is calculated by subtracting Liveliness from 1 and multiplying the result by the circulating supply. Hodler Net Position Change is its 30-day change.

Technical. For BTC, all spent coins are counted, including change. For all other assets, coin age is the time since an address's balance-weighted average acquisition time. For ETH tokens, burn addresses are excluded. For assets other than BTC, the ratio is taken by dividing by the sum of all address's balance, which can be different than the circulating supply.

Notes. First coined by Adamant Capital. For more information, see the primer on Bitcoin investor sentiment and changes in saving behavior.