Cumulative percentage of transparent ZEC by age threshold. "< X" lines show recently-active coins (younger than that threshold); "> X" lines show dormant coins (older than that threshold). Toggle lines in the legend to focus on specific bands. Sharp upward moves in "< X" lines indicate old coins being spent or new coins flooding in. Built from snapshots of every unspent transaction output (UTXO).
This is the same ages as cumulative shares rather than amounts. Two things are true of it before anything else:
It covers the transparent minority. Coins in a shielded pool carry no publicly readable age, so they are not absent by choice — they are uncountable. Nothing here describes how long Zcash holders have held.
A coin leaving is not a coin sold. Transparent ZEC that gets shielded exits this data entirely, and from here that is indistinguishable from a spend. Check the shielding rate before reading a fall as distribution.
Percentages hide the denominator. A band can rise because coins entered it or because the transparent set shrank around it. Read it beside transparent ZEC by age, which is the same data in absolute terms.
“< X” lines are coins younger than a threshold and “> X” lines are older. A sharp rise in a “<” line is old coins waking up — the single most interesting event this chart can show.