@alvisbarton

Holding-period or HODL-age features can be constructed by analyzing UTXO sets or token balances. Tokens held longer without movement indicate conviction, while frequent turnover signals speculative flow. Factor backtests rank assets by weighted average holding period, testing forward returns. Evidence suggests long-term holders provide supply stability, creating positive predictive power. However, factor decay must be evaluated, as sudden liquidations by dormant wallets can reverse trends. By embedding HODL age as a quantitative feature, investors capture behavioral anchoring effects, linking investor patience with reduced downside volatility and sustained price appreciation.

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