Definition. The Short-Term Holder Cost Basis Distribution (CBD) Heatmap is a price-versus-time visualization of STH supply density across cost-basis levels over a specified period (e.g. 1 month, 1 year). The y-axis represents the cost basis on a log scale, set from 1% below the minimum price to 1% above the maximum price within the chosen period, and each pixel's color intensity reflects the concentration of STH supply at that price level. Long-Term Holder CBD Heatmap is the long-term holder counterpart, and Cost Basis Distribution Heatmap is the related base variant without segmentation.

Technical. All CBD metrics use an address-based approach, analyzing holdings based on individual wallet addresses for consistency across digital assets and comparability across blockchain architectures. This contrasts with the UTXO-based approach used in metrics like URPD, which categorizes supply based on unspent transaction outputs and is typically used for chains like Bitcoin, so metrics for UTXO-based assets may show slight differences across these distinct computational methods. Cost basis is an address's balance-weighted average acquisition price, so each address contributes its full balance to a single price level. Coins are assigned to LTH/STH with a smooth transition around 155 days.

Interpretation. Dense bands identify price levels where significant portions of STH supply were acquired, informing where recent cohort acquisition may act as support or resistance.