Definition. The total estimated amount of coins moved by long-term holders in loss. Coins are considered to be in loss when the price at the time the coins are spent is lower than the entity's average on-chain acquisition price for its funds. Long-Term and Short-Term Holder supply is defined with respect to the entity's averaged purchasing date with weights given by a logistic function centered at an age of 155 days and a transition width of 10 days.

Technical. Volume transferred within addresses of the same entity is excluded. Entities are clusters of addresses estimated to be controlled by the same actor, identified through advanced heuristics and Glassnode's proprietary clustering algorithms. Entity-based metrics rely on statistical and data-science methods that are refined over time. The series is therefore mutable: its established history is stable, but recent data points may revise as clustering improves. For methodology, see our article on account-based metrics.

Notes. 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 LTH Transfer Volume in Loss. 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.