This metric aims at giving an estimate for the year-over-year change in the share of the Bitcoin supply to be held/traded in Asia.

Geolocation of Bitcoin supply is performed probabilistically at the entity level. The timestamps of all transactions created by an entity are correlated with the working hours of different geographical regions to determine the probabilities for each entity being located in the US, Europe, or Asia. Working hours are defined as:

• US: 8am to 8pm Eastern Time (13:00-01:00 UTC)
• EU: 8am to 8pm Central European Time (07:00-19:00 UTC)
• Asia: 8am to 8pm China Standard Time (00:00-12:00 UTC)

An entity's balance will only contribute to the supply in the respective region if the location can be determined with a high certainty. Supply held on exchanges wallets are excluded.