The RHODL Ratio is another popular metric for tracking this transfer of wealth from old HODLers to new investors and Speculators. It is constructed as the ratio between wealth stored within in 1-week old vs 1y-2y old coins.

The chart below has highlighted in 🔵 where the RHODL Ratio crosses above its current value of 6.3k. We can see that this indicator is in a very similar position to all prior ATH breaks, suggesting the transfer of wealth is firmly in line with historical precedents.