According to Data, Whales Have Entered the Accumulation Phase in These 3 Altcoins, Selling in Another Altcoin

Cryptocurrency analyst Joao Wedson has conducted an in-depth analysis of Coin Days Destroyed (CDD) trends on major UTXO blockchains, including Dash (DASH), Litecoin (LTC), Dogecoin (DOGE), and Zcash (ZEC). CDD is an important metric used to measure the movement of old coins on the blockchain. It is calculated by multiplying the number of coins transferred by the number of days they have not been active. This helps analysts determine whether long-term holders are selling or continuing to hold their positions. Wedson notes that it is important to track CDD in UTXO-based blockchains, which operate similarly to the transaction structure of Bitcoin. Although this metric is often applied to Bitcoin, his latest research expands the focus to DASH, LTC, DOGE, and ZEC. When CDD increases, this indicates that old coins are being moved and is often associated with selling activity. Wedson notes that the significant increase in CDD for these assets coincides with the local peak price levels in December 2024 and January 2025: DASH reached $65. LTC rose to $136. DOGE reached $0.46. ZEC rose to $75. According to Wedson, these spikes indicate that long-term holders are taking advantage of higher prices to sell their shares. Additionally, large institutions have been seen selling coins, which typically occurs during market peaks. After peaking, the CDD index has shown a downward trend for DASH, LTC, and DOGE. This decline indicates an accumulation phase where investors are holding their coins and are confident in future price growth. The decrease in CDD also suggests that selling pressure is easing, which often leads to price stability and potential upward momentum. Unlike the other three coins, the CDD of ZEC remains high, indicating that selling pressure is still ongoing. This means that investors are still selling off their holdings, which could potentially lead to a further decrease in the price of ZEC.