HODL Wave Metrics

HODL Wave Metrics provide a visual and analytical representation of the age distribution of all circulating tokens. By categorizing tokens based on the time since they were last moved, these waves show the percentage of supply that has been held for various durations.

This allows analysts to track the behavior of different cohorts, from short-term speculators to long-term investors. A shift in the waves toward older age bands indicates a strong accumulation trend, while a shift toward younger bands suggests widespread selling or distribution.

These metrics are instrumental in identifying market tops and bottoms, as they reflect the aggregate conviction of the market. HODL waves turn complex transaction data into a readable history of market sentiment.

They are a powerful tool for long-term fundamental analysis and for understanding the evolution of the investor base over time.