This chart presents:

• 🟣 BTC volume of coins < 3m.
• 🟧 30-day net supply change < 3m.

Generally speaking, these 'warm coins' are mobile, liquid, and reflect the supply which has most recently transacted. This means that the current owner likely acquired them in recent market history, and thus tends to be more responsive to volatile price changes, as their holdings moving into a profit or a loss.

By capturing coins aged up to 3m, we can better observe market cycles, and total balance change (with more clarity than say coins < 1m).

💡 Hint: The swelling of coins younger than 3m can only occur when coins older than 3m are spent. This therefore provides information on the aggregate spending patterns of the cohort with older coins.