The Short-Term Supply chart (or STH for short) shows the total supply of KAS held by short-term holders, defined by any entity holding KAS less than 155 days or more. 

Why is it Important? 

The amount of coin's supply held by short-term traders tends to increase as the coin's price appreciates. Historically, this has been a clear indication that older coin stashes are being reactivated in bull markets for trading (i.e., selling). If you notice an increase in STH supply, this may be a good time to prepare for potential selling pressure trends. 

How to Read the Chart? 

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

1. The Short-term Holder Supply (Orange Line and Area Chart): The Short-term holder supply is recorded in absolute units of billions of KAS and shown in orange. 

2. The Kaspa Market Price (The White Line): The Kaspa Market Price 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 orange portion rises above the white line, this indicates an increase in the STH supply, suggesting that selling pressure may occur. 

Want to Learn More?

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

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