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What is Spent Output Value Bands?

Spent Output Value Bands show the distribution of all spent outputs according to its value. Each colored band represents the total value of spent outputs, that has a value within the denoted range. This indicator can be used to estimate the amount of coins moved by whale and retail holders Spent Output Value Bands=∑_o∈spent outputsvalue_o\*I(a_i≤value_o<b_i)\text{Spent Output Value Bands} =\sum\_{o \in \text{spent outputs}} \text{value}\_o \* \mathbb{I}(a\_i \leq \text{value}\_o < b\_i) \text{Spent Output Value Bands (%)} =\frac{\sum\_{o \in \text{spent outputs}} \text{value}*o \* \mathbb{I}(a\_i \leq \text{value}*o < b\_i)}{\sum*{o \in \text{spent outputs}} \text{value}*{o}} \* 100 \[a_i,bi)∈\[0,0.01),\[0.01,0.1),\[0.1,1),\[1,10),\[10,100),\[100,1k),\[1k,10k),\[10k,inf)\[a\_i, bi) \in \[0, 0.01), \[0.01, 0.1), \[0.1, 1), \[1, 10), \[10, 100), \[100, 1k), \[1k, 10k), \[10k, inf)

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How to interpret Spent Output Value Bands

This indicator can be used to estimate the amount of coins moved by whale and retail holders. As price rises/falls, it is advised to watch out for values in the Spent Output Value Bands to further gain insights on the market through analyzing its participants. Unlike UTXO Value Bands, Spent Output Value Bands focus on the UTXOs that were destroyed within the set metric window. With the help of Spent Output Value Bands, it is possible to pinpoint which sized UTXOs were destroyed in what amount. Using this knowledge, investors can correlate any price movement or changes in the network with the action of whales/retails’ action precisely.

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By value itself

  • High value(Native Value) & Dominance(%) in certain Spent Output Value Bands
    - Mostly accountable for changes in the network
For example, if the UTXO Value Band of 1k to 10k has the greatest Spent Output Value Bands in terms of value or dominance, it could be interpreted that investors holding at least 1k to 10k are mostly accountable for any price movement or changes that occur in the market within a set metric window. Query this metric directly from the CryptoQuant Data API: