Exchange Inflow - Spent Output Age Bands
Exchange Inflow - Spent Output Age Bands is a set of all spent outputs that were created within a specified age band which flowed into exchange wallets.

# Definition

Exchange Inflow - Spent Output Age Bands is a set of all spent outputs that were created within a specified age band which flowed into exchange wallets. Each colored band represents the total value of spent outputs that flowed into exchanges, which were last created within the denoted time period. This indicator summarizes the flow of capital into exchanges from long-term and short-term holders.
$\text{Exchange Inflow - Spent Output Age Bands}=\sum_{u \in \text{inflow-utxos}_t} \text{value}_u * \mathbb{I}(a_i \leq \text{lifespan}_u < b_i)$
Metric
Definition
Exchange Inflow - Spent Output Age Bands
Each colored band represents the total value of spent outputs that flowed into exchanges, which were last created within the denoted time period.
Exchange Inflow - Spent Output Age Bands (%)
Each colored band represents the ratio of the total value of spent outputs that flowed into exchanges, which were last created within the denoted time period.

# Interpretation

This indicator summarizes the behavior of long-term and short-term holders along with the price actions. As price rises/falls, it is advised to watch out for values in the Spent Output Age Bands to further gain insights on the market through analyzing its participants.
Unlike UTXO Age Bands, Spent Output Age Bands focus on the UTXOs that were destroyed within the set metric window. With the help of Spent Output Age Bands, it is possible to pinpoint which aged UTXOs were destroyed in what amount. Using this knowledge, investors can correlate any price movement or changes in the network with the action of long-term/short-term holders' action.
Different from regular Spent Output Age Band, Exchange Inflow - Spent Output Age Bands specifically screens spent output that relates to exchanges' wallets and thus provides powerful insights like below

### 1) Targeting Specific Exchange Inflow's coins' feature (Long-term / Short-term / Cohort's Coins)

If a large inflow happened to Binance's Wallet, taking interpretation from Exchange Inflow - Spent Output Age Bands (Binance) could indicate whether long-term/short-term holders' coins were accountable for most of the inflow. If drastic price movement was made after the inflow, it is reasonable to infer that " Inflow that happened in the Binance are Long-term/Short-term investors that drove the price to drop/rise."

### 2) Keep track of only the short-term/long-term coins' exchange inflow

If certain age band's coins were flowed into the exchange, CryptoQuant users can infer their past behavior pattern and take market situation into consideration and act correspondingly.

## By value itself

• High value(Native Value) & Dominance(%) in certain Spent Output Age Bands - Mostly accountable for changes in the network
For example, if the UTXO Age Band of 3 years to 5 years have the greatest Spent Output Age Bands in terms of value or dominance, it could be interpreted that investors of 3 years to 5 years are mostly accountable for any price movement or changes that occur in the market within a set metric window.