Crypto Holders Stay Calm as Old Coins Remain Dormant
Old coin activity remains moderate as holders show no panic selling, despite brief ASOL spikes in October.
- ASOL briefly spiked in October but stayed below earlier highs.
- The 30-day ASOL average holds steady at 111 days.
- Market shows stability with no signs of panic selling.
The crypto market has seen moderate activity from long-term holders over the past month. One key metric, ASOL — or Average Spent Output Lifespan — measures the average age of coins moved on a given day. On October 8, ASOL briefly spiked to 245 days, and again to 209 days on October 21. While these numbers suggest some movement from older holders, they are significantly lower than the spikes seen during the spring and June, when long-dormant coins were suddenly reactivated.
These short-term increases hint at minor market adjustments but fall short of signaling any major shift in sentiment from experienced holders.
Market Holds a Structural Baseline
A more telling indicator is the 30-day moving average of ASOL, which remains stable at around 111 days. This consistent average suggests that the market is currently operating on a structural baseline. In other words, the movement of older coins is balanced and not driven by fear or urgency.
There is no evidence of panic selling. Long-term holders appear confident in the market’s direction, choosing to retain their positions rather than rush to sell. This behavior supports the idea that the market is in a steady state rather than facing volatility or uncertainty.
Liquidity Absorbing Market Supply
An important point to note is that incoming liquidity continues to absorb the coins entering the market. This steady inflow, mentioned in a recent Substack report, is playing a crucial role in maintaining market equilibrium. As coins are being sold or moved, there’s sufficient demand to match them, preventing sharp price movements and volatility.
With older holders staying calm and liquidity supporting the market, the outlook remains stable in the short term. This balance is a positive sign for the overall health of the crypto ecosystem.
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