Supply Last Active ≥ 5Y shows what share of current supply has remained unspent for at least five years. It tracks very old dormant supply, so it says less about broad long-term holding and more about whether coins have stayed locked through multiple market phases.
A rising line means more supply has entered a very low-turnover state. A falling line means some deeply dormant supply has finally moved and reset younger. It is most useful with ≥3Y and ≥10Y, where the question is very old supply versus ultra-old supply.
The key distinction is rarity. This threshold changes less often than the lower variants, and a decline here is more meaningful because it implies reactivation of genuinely old supply rather than ordinary cycle aging.
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