The Long-Term Holder Supply chart (or LTH for short) shows the total supply of KAS held by long-term holders, defined by any entity holding KAS longer than 155 days or more. 

Why is it Important?

Long-term holders tend to have a low-time preference (sacrificing current rewards for greater future rewards) and, therefore, tend to have more conviction in the coin's future price. However, historically speaking, long-term holders still tend to sell off a portion of their holdings during bull market peaks. 

Spotting a dip in the LTH supply (in relation to the market price) can indicate a bull run top or, at the very least, momentary price euphoria. 

How to Read the Chart? 

The Long-Term Holders Supply Chart consists of the following components:

1. The Long-term Holder Supply (The green filled-in portion) is recorded in G as units of 1 billion. For example, if the LTH portion reads 12.96 G, then long-term holders collectively hold close to 13 billion KAS coins. 

2. The Kaspa Market Price (The White Line) is recorded in USD and plotted against the price on the y-axis and time on the x-axis from just before January 2023 to the present time.  

When the green portion dips below the white line, this indicates that long-term holders are selling, suggesting the early stages of a bull market run or its top. 

Want to Learn More?

To learn more about the LTH chart and its relation to the STH chart, we recommend the following article by Glassnode here. 

*It's important to note that Kaspa is quite new; therefore, its LTH supply trends may not match the historical movements of other coins, such as Bitcoin.