# Spent Output Age Bands

Spent Output Age Bands is a set of all spent outputs that were created within a specified age band.

## Definition

Spent Output Age Bands is a set of all spent outputs that were created within a specified age band. Each colored band represents the total value of spent outputs, that were last created within the denoted time period. This indicator summarizes the behaviors of long-term and short-term holders along with the price actions.

$\text{Spent Output Age Bands} ={\sum_{o \in \text{spent outputs}} \text{value}_o * \mathbb{I}(a_i \leq \text{lifespan}_o < b_i)}$
$\text{Spent Output Age Bands(USD)} =\text{price}_{current}*{\sum_{o \in \text{spent outputs}} \text{value}_o * \mathbb{I}(a_i \leq \text{lifespan}_o < b_i)}$
\text{Spent Output Age Bands(%)} =\frac{\sum_{o \in \text{spent outputs}} \text{value}_o * \mathbb{I}(a_i \leq \text{lifespan}_o < b_i)}{\sum_{o \in \text{spent outputs}} \text{value}_{o}}*100
$[a_i, bi) \in [[0, 1d), [1d, 1w), [1w, 1m), [1m, 3m), [3m, 6m), [6m, 12m), [12m, 18m), [18m, 24m)\\ [2y, 3y), [3y, 5y), [5y, 7y), [7y, 10y), [10y, \inf)$
 Metric Definition Spent Output Age Bands Each colored band represents the total value of spent outputs, that were last created within the denoted time period. Spent Output Age Bands USD Each colored band represents the total value of spent outputs, that were last created within the denoted time period in USD value. Spent Output Age Bands (%) Each colored band represents the ratio of the total value of spent outputs, that 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. Beyond just long-term & short-term holders' behavior, it is possible to screen the specific Aged UTXOs (Cohort) behavior and their reaction to certain price range, market atmosphere. 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 (according to Age Bands timeline) 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.

### 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.

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