Coin Days Destroyed is an on-chain metric that measures the economic significance of coin movements by factoring in both the amount of cryptocurrency transacted and the duration it remained dormant. When a coin moves, the number of days it was held is multiplied by the amount, yielding “coin days” that are then “destroyed.” This metric provides insight into the activity of older, larger holdings.
Context
Crypto news often uses Coin Days Destroyed to analyze long-term holder behavior and potential market shifts. A high Coin Days Destroyed value can indicate that older coins are being spent, possibly signaling profit-taking by long-term investors or a shift in market sentiment. Conversely, low values suggest that long-term holders are keeping their assets, implying a lack of selling pressure.
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