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Bitcoin

HODL waves

HODL waves

The supply by how long its coins have stood still, from under a week to over ten years — young bands swell near tops, old ones in bear markets.

63.3%Unmoved for a year or morePrice$84.5KUnder 1 week3.1%1 week – 1 month3.7%1–3 months7.1%3–6 months5.4%6–12 months17.5%1–2 years14.7%2–3 years6.0%3–5 years9.0%5–7 years7.4%7–10 years8.4%Over 10 years17.8%
25%50%75%100%2012 halving20122016 halving20162020 halving20202024 halving202418 Jul 201021 Aug 201824 Sept 2026perly.io
  • Under 1 week
  • 1 week – 1 month
  • 1–3 months
  • 3–6 months
  • 6–12 months
  • 1–2 years
  • 2–3 years
  • 3–5 years
  • 5–7 years
  • 7–10 years
  • Over 10 years

A band is the coins whose last move was that long ago; the white line marks a year. Near a top the young bands swell as old coins are sold to new buyers, and in a bear market the old bands thicken again.

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How this is built

The supply by how long its coins have stood still, from under a week to over ten years — young bands swell near tops, old ones in bear markets.

Formulasupply(a ≤ age < b) / supply

AuthorDhruv Bansal, Unchained Capital

The idea and the formula are Dhruv Bansal, Unchained Capital's. Perly claims no authorship of it — what is ours here is the drawing, computed from public data.