Understanding ASOL and Market Stability
The crypto market has experienced moderate activity from long-term holders over the past month. A key metric, ASOL, which stands for Average Spent Output Lifespan, measures the average age of coins moved on a given day. On October 8, ASOL briefly spiked to 245 days, and again to 209 days on October 21. While these figures suggest some movement from older coin holders, they are notably lower than the spikes observed during the spring and June periods. During those earlier months, long-dormant coins were reactivated in greater numbers.
These short-term increases in ASOL indicate minor market adjustments but do not signify any major shift in sentiment among experienced holders.
- •ASOL briefly spiked in October but stayed below earlier highs.
- •The 30-day ASOL average holds steady at 111 days.
- •The market shows stability with no signs of panic selling.
Market Holds a Structural Baseline
A more telling indicator of market sentiment is the 30-day moving average of ASOL, which has remained stable at approximately 111 days. This consistent average suggests that the market is currently operating on a structural baseline. This means that the movement of older coins is balanced and not driven by fear or urgency.
Currently, there is no evidence of panic selling. Long-term holders appear confident in the market's direction, choosing to maintain their positions rather than rushing to sell. This behavior supports the idea that the market is in a steady state, rather than facing significant volatility or uncertainty.
Over the past month, the activity of old coins has remained moderate. The daily ASOL (average age of coins moved within a day) briefly rose to 245 days on October 8 and 209 days on October 21, but these spikes were much weaker than those in spring and June, when older holders… pic.twitter.com/J2qTcbIMIF
— Axel Adler Jr (@AxelAdlerJr) October 30, 2025
Liquidity Absorbing Market Supply
An important observation is that incoming liquidity continues to absorb the coins entering the market. This steady inflow, as noted in a recent Substack report, plays a crucial role in maintaining market equilibrium. As coins are sold or moved, there is sufficient demand to match them, which effectively prevents sharp price movements and volatility.
With older holders remaining calm and liquidity supporting the market, the short-term outlook appears stable. This balance is a positive indicator for the overall health of the crypto ecosystem.