> ## Documentation Index > Fetch the complete documentation index at: https://docs.amberdata.io/llms.txt > Use this file to discover all available pages before exploring further. # Monthly HODL Net Position Change *** # Description [Liveliness](https://medium.com/@tamas.blummer/liveliness-of-bitcoin-174001d016da) is the ratio between the sum of Bitcoin Days Destroyed and the sum of all Bitcoin Days Ever Created. It reflects investor behavior on the network, increasing as long-term holders liquidate positions and decreasing during accumulation phases. A high Liveliness indicates a higher rate of meaningful on-chain activity, whereas a lower Liveliness suggests that a greater portion of supply is inactive or being held. Liveliness approaches 1 if all coins move within a single block and trends toward 0 in a network where coins remain dormant aside from issuance. It provides insight into whether the network is primarily being used for transactions or long-term holding. The number of “Lost or HODLed Bitcoins” can be derived by subtracting Liveliness from 1 and multiplying the result by t**he t**otal supply. This value tends to decrease during bull markets, when more coins are spent or traded, and increase during periods of low price volatility, when accumulation is more common. **HODLer Net Position Change** measures the net accumulation or distribution of Bitcoin by long-term holders. It reflects changes in the total balance of these holders over time. During bull markets, this metric tends to decline as long-term holders sell into rising prices. Conversely, it rises in bear markets or periods of consolidation, when these participants accumulate more Bitcoin. While **Liveliness** measures overall investor activity across the network, **HODLer Net Position Change** focuses specifically on behavior among large, long-term holders. *** # Use Case **Traders** use these metrics by staying ahead of whale activity, which can dramatically shift token prices. **Analysts** use these metrics to identify the stage of the market. \*\*Researchers \*\*use these metrics to find patterns of whale activity to token prices, and to find measures of network activity (liveliness) to adoption rates. *** # Methodology **Coin Days Created (CDC)** = Cumulative Sum of (Issuance \* Reward Days Created) **Liveliness** = SUM(Coin Days Destroyed) / SUM(CDC) \*\*HODLed Coins \*\*= (1 - Liveliness) \* Supply **HODLer Net Position Change** = Daily or monthly change in HODLed Coins ***