Definition. The percent of circulating supply that has not moved in at least 1 year. HODL Waves is the related breakdown across all age bands.

Technical. For BTC, coin age is measured per UTXO. Other assets use an address-based approach, where coin age is the time since an address's balance-weighted average acquisition time, so each address contributes its full balance to a single age band. The share is taken relative to the sum of all balances, which can differ from circulating supply. For ETH, the beacon deposit contract is excluded. For ETH tokens, burn addresses are excluded.