# Glassnode学习-参数10-Liveness

**Published by:** [AAAAA](https://paragraph.com/@aengine/)
**Published on:** 2022-04-05
**URL:** https://paragraph.com/@aengine/glassnode-10-liveness

## Content

Liveness Liveliness is a metric which provides insights into shifts in macro HODLing behaviour, helping to identify trends in long term holder accumulation or spending. It highlights periods where coin days are being destroyed at a rate faster than the global network is accumulating them.Liveliness is powerful tool for identification of market cycles. Under the assumption that smart money HODLers accumulate cheap coins and sell expensive coins, we can use the overall trend of liveliness to assess their spending/saving behaviour. The chart below shows:Bull Markets: HODLers spending expensive coins destroying accumulated coin days and leading to an uptrend in Liveliness (red)Bear markets: HODLers accumulating cheap coins increasing dormancy and leading to a downtrend in Liveliness (green)Re-accumulation: Balanced on-chain activity with coin days destroyed proportional to global coin day accumulation (blue)

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