Supply aged 1 to 2 years

Last cycle's buyers. This is the band that empties hardest near cycle tops, because coins bought roughly a year before a high are the ones sitting on the largest gains.

DefinitionCirculating supply held in unspent outputs whose age falls between one and two years. Age is real elapsed time off a monotonised block clock (the running maximum of block timestamps), not blocks divided by 144. The twelve bands sum to circulating supply exactly, verified to machine precision.

LimitAge is per output, not per owner: consolidating coins or receiving change resets the clock on bitcoin nobody sold.

UnitBTC