The total estimated amount of coins moved by short-term holders. Volume transferred within addresses of the same entity is excluded. Long- 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.

Entities are defined as a cluster of addresses that are controlled by the same network entity and are estimated through advanced heuristics and Glassnode's proprietary clustering algorithms. Note that entity–based metrics are based on data science techniques and statistical information that changes over time and are therefore mutable – the data is stable, but most recent data points are subject to slight fluctuations as time progresses. For more information see this article.