Economic Supply Spread shows the short-term and long-term holder shares together in one frame. It is the comparative view of the same economic supply base, so the chart asks how the current supply set is divided between recent holders and older holders rather than measuring a separate underlying quantity.
A wider short-term share means more of the economic supply base is sitting with recent holders. A wider long-term share means older holders dominate the same base. It is most useful when the question is balance itself, especially beside the individual STH and LTH share charts.
The key distinction is presentation. This is not a separate calculation with its own denominator, but the combined view of two complementary share series. Its value is immediacy: the holder split is visible without comparing two separate panels.
Read full methodology