In Monday's BI Report, we highlighted two market risks: very high levels of unrealized profits + early signs that old guards are selling. These long-term holders suffered through the last brutal bull market but have now begun to take some profits. Report link below. 1/ Value Days Destroyed (VDD) Multiplier The profit-taking risk becomes more elevated when older coin holders, with large unrealized gains, begin to spend. To monitor this, the Value Days Destroyed (VDD) Multiplier offers a powerful lens. It measures the price-weighted ratio between the daily and yearly volume of destroyed coin-days, essentially capturing how intensely older, dormant coins are being reactivated.