Average Spent Output Lifespan (ASOL)
ASOL (Average Spent Output Lifespan) is the average age (in days) of all spent transaction outputs.
ASOL (Average Spent Output Lifespan) is the average lifespan (in days) of all spent transaction outputs.
ASOL highlights on a macro level the lifespan of coins on a per transaction output basis that were spent that day. This provides insight into the balance between short-term (young coins) and long-term (old coins) spending behaviour over a period of time.
Generally speaking, ASOL can be considered in the following framework:
- ASOL provides a more sensitive view than MSOL on the aggregate spending behaviour. It often trends higher with market volatility and changes in market sentiment and structure as older, dormant coins are spent back into circulation.
- High values typically indicate an increased proportion of network traffic are old coins being spent, often associated with long term holders taking advantage of high market volatility.
- Low values typically indicate day-to-day traffic comprised mainly of young coins being spent, often associated with traders and short term holders.
Note that ASOL account only for the lifespan of the spent outputs and does not consider coin volume moved (i.e. ignores how many BTC units are moved). Two outputs which are 100-days old but worth 0.1BTC and 100BTC respectively, have identical weights in the ASOL calculation.