On-chain data shows the Solana network has just seen a large movement of dormant coins. Here’s what this could mean for the cryptocurrency.
Solana Coin Days Destroyed Has Witnessed A Huge Spike
In a new post on X, the on-chain analytics firm Glassnode has talked about the latest trend in the “Coin Days Destroyed” (CDD) indicator for Solana. A ‘coin day’ is a quantity that one token of the asset accumulates after having stayed dormant (that is, not being involved in any transaction activity) for one day.
When a token carrying some number of coin days is moved, its coin days counter resets back to zero, and the coin days that it was carrying are said to be ‘destroyed.’ The CDD measures the total number of coin days being reset in this manner across the network.
When the value of this indicator registers a spike, it means dormant coins are potentially on the move. Generally, this kind of trend is a sign of transaction activity from the long-term holders (LTHs).
We współpracy z: https://www.newsbtc.com/news/solana/solana-old-hands-moving-is-trouble-brewing/
