Definition ∞ “Old coin spent” refers to the movement of cryptocurrency units that have remained static in a wallet for an extended duration, often several years, before being transacted. On-chain analytics track this metric to understand the behavior of long-term holders. The spending of these coins can indicate a change in market sentiment or a decision by early investors to liquidate assets.
Context ∞ The movement of old coins spent is a closely watched on-chain metric, frequently reported in crypto news to gauge potential selling pressure from long-term holders or “whales.” A sudden increase in this activity might precede market volatility or signal a shift in accumulation patterns. Interpreting these movements helps analysts predict market trends and investor behavior.
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