Demographers use age pyramids to visualize how a population is distributed across age cohorts — a wide base of young people points to a growing nation, while a top-heavy pyramid signals an aging society. Cryptocurrencies have their own version: the supply age pyramid, which reveals how a blockchain’s circulating coins are distributed across vintage layers, from freshly minted outputs to decade-old dormant UTXOs.
At EraDoge.com, we classify on-chain assets by their vintage year. But vintage depends not only on when a coin was created — it depends on the chain that hosts it. Bitcoin, Ethereum, Litecoin, and Dogecoin each accumulate age layers differently, producing four distinct age pyramids that shape everything from liquidity profiles to vintage premiums.
This article introduces the Age Pyramid Framework and maps the supply age distributions of the four most established vintage chains.
I. The Age Pyramid Framework
An age pyramid in cryptocurrency measures the percentage of total supply that has remained unmoved (unspent or unstaked) over specific time thresholds. The key bands:
| Age Band | Behavioral Profile | Vintage Significance |
|---|---|---|
| < 1 year | Active trading / hot supply | Young — minimal vintage premium |
| 1–3 years | Medium-term holders | Emerging vintage — early premium formation |
| 3–5 years | Long-term conviction holders | Mature vintage — significant premium |
| 5–7 years | Multi-cycle survivors | Deep vintage — hardening accelerates |
| 7–10 years | Early adopters / multi-cycle HODLers | Ultra-deep vintage — near-maximum scarcity premium |
| 10+ years | Genesis-era / Satoshi-era coins | Legendary vintage — mostly lost or permanently dormant |
A wide base (lots of young supply) characterizes high-velocity, low-HODL chains. A wide top (lots of old supply) signals deep vintage accumulation and supply hardening — the process by which coins become progressively less likely to move as they age.
II. Bitcoin: The Oldest Pyramid
Bitcoin has the deepest supply age pyramid of any major blockchain. Over 15 years of continuous PoW issuance has created an unparalleled vintage stratification.
BTC Supply Age Distribution (Q2 2026)
| Age Band | % of Supply | Cumulative % | Estimated BTC |
|---|---|---|---|
| < 1 year | ~12% | ~12% | ~2.4M |
| 1–3 years | ~13% | ~25% | ~2.6M |
| 3–5 years | ~30% | ~55% | ~5.9M |
| 5–7 years | ~18% | ~73% | ~3.6M |
| 7–10 years | ~12% | ~85% | ~2.4M |
| 10+ years | ~14% | ~100% | ~2.8M |
Sources: Glassnode HODL Waves (Q2 2026), CoinMetrics Supply by Age. Approximate distribution based on reported cohort percentages. ~19.8M total supply.
Bitcoin’s age pyramid is strikingly top-weighted: ~44% of all BTC has been unmoved for 5+ years, and ~14% has been dormant for over a decade. This is the defining characteristic of the Bitcoin vintage profile: the vast majority of the supply base is old, illiquid, and deeply hardened.
The 5-Year Hardening Threshold
Bitcoin’s most important vintage boundary is the 5-year threshold. Coins that cross this threshold exhibit a hardening probability curve that makes them 3-5x less likely to move than coins in the 1-3 year band:
| Years Since Last Move | Probability of Moving Next Year |
|---|---|
| < 1 year | 40–60% |
| 1–3 years | 20–35% |
| 3–5 years | 10–20% |
| 5–7 years | 5–12% |
| 7–10 years | 3–8% |
| 10+ years | < 2% |
This hardening dynamic creates a self-reinforcing scarcity engine: as time passes, more coins age past the 5-year threshold and become effectively removed from liquid circulation. The effective liquid Bitcoin supply is estimated at only 5-6M BTC, or roughly 25-30% of total mined supply.
Vintage Year Layers
| Vintage Period | % of Supply | Key Events Anchoring the Cohort |
|---|---|---|
| 2010–2011 | ~2–4% | First exchange (BitcoinMarket.com), Satoshi era |
| 2012–2013 | ~5–8% | First halving, first bubble ($1,153) |
| 2014–2016 | ~8–12% | Bear market accumulation, second halving |
| 2017–2020 | ~25–30% | ICO boom, 2018 winter, third halving |
| 2021–2024 | ~30–35% | Institutional entry, ETF approvals |
| 2025–2026 | ~10–15% | Current cycle accumulation |
Each layer carries the economic and cultural signature of its era — a concept EraDoge.com uses to classify on-chain assets as year assets with distinct scarcity profiles.
III. Ethereum: The Bimodal Pyramid
Ethereum’s supply age distribution differs fundamentally from Bitcoin’s because of two structural forces: proof-of-stake staking (which locks supply for years) and smart contract utility (which creates higher transaction velocity).
ETH Supply Age Distribution (Q2 2026)
| Age Band | % of Supply | Key Driver |
|---|---|---|
| < 1 year | ~25% | Active DeFi trading, CEX turnover |
| 1–3 years | ~35% | Staking cohort (deposited 2023–2025) |
| 3–5 years | ~25% | Early stakers + 2021 bull accumulation |
| 5+ years | ~15% | Pre-Beacon Chain vintage, ICO-era survivors |
Sources: Dune Analytics (hildobby/eth2-staking), Glassnode. ~120M ETH total supply.
Ethereum’s age pyramid is bimodal: there are two distinct peaks — one in the 1-3 year band (dominated by staked ETH deposited post-Merge) and a smaller peak in the 3-5 year band (pre-Merge holders). This bimodality is unique among major chains and is a direct consequence of the Beacon Chain’s launch in December 2020 and the Merge in September 2022.
The Staking Concentration Effect
As of Q2 2026, roughly 34 million ETH (~28% of total supply) is staked in the Beacon Chain deposit contract. This staked supply is effectively immobilized — it cannot be moved or sold without going through the exit queue, which imposes a minimum waiting period. The result is a synthetic aging effect: staked ETH behaves like vintage supply even if it was only recently acquired, because the staking contract enforces immobility.
This is fundamentally different from Bitcoin’s organic hardening. Bitcoin’s 5+ year coins are old because their holders chose not to move them. Ethereum’s 2-3 year staked coins are old because the protocol prevents them from moving. The vintage premium implications are correspondingly different: Ethereum’s staking-driven vintage is more predictable but potentially less authentic as a signal of conviction.
Pre-Merge vs. Post-Merge Vintage
| Era | Approx. Supply Share | Vintage Profile |
|---|---|---|
| ICO Era (2015–2017) | ~15% | Oldest ETH vintage; mostly unmoved; includes genesis allocation |
| Pre-Merge Bull (2020–2022) | ~30% | Accumulated during DeFi summer and NFT boom |
| Post-Merge Staking (2023–2026) | ~55% | Dominated by staked supply; synthetic aging effect |
IV. Litecoin: The Bell Curve
Litecoin, often called “digital silver” to Bitcoin’s “digital gold,” exhibits a supply age pyramid that is the most normally distributed of the four chains — a classic bell curve centered on the medium-term bands.
LTC Supply Age Distribution (Q2 2026)
| Age Band | % of Supply | Behavioral Note |
|---|---|---|
| < 1 year | ~28% | Active trading; LTC used as medium of exchange |
| 1–3 years | ~22% | Medium-term HODLers |
| 3–5 years | ~28% | Long-term LTC believers |
| 5+ years | ~22% | Deep vintage; includes 2011–2013 genesis cohort |
Sources: Blockchain.com UTXO Age Distribution, BitInfoCharts. ~75M LTC total supply.
Litecoin’s age pyramid resembles a bell curve rather than Bitcoin’s top-heavy pyramid or Ethereum’s bimodal distribution. The largest cohorts cluster in the < 1 year and 3-5 year bands, creating a symmetrical profile that reflects LTC’s dual role as both a medium of exchange and a store of value.
The 2011 Genesis Vintage
Unlike Bitcoin (2009) or Dogecoin (2013), Litecoin launched in October 2011 — a year with almost no competing altcoins beyond Namecoin. This early launch gives LTC a unique vintage position:
| LTC Vintage | Launch Year | Cumulative Days | Vintage Rank |
|---|---|---|---|
| Bitcoin | January 2009 | 5,500+ | 1st |
| Namecoin | April 2011 | ~4,700 | 2nd |
| Litecoin | October 2011 | ~4,500 | 3rd |
| Dogecoin | December 2013 | ~3,800 | ~15th+ |
Litecoin’s 2011 vintage coins — mined in the first year — are the third-oldest continuously existing blockchain assets in the world. Their estimated supply (heavily diluted by early trading and exchange losses) is likely under 500,000 LTC.
V. Dogecoin: The Youngest Pyramid
Dogecoin’s supply age pyramid is the youngest of the four chains — a direct consequence of its high annual issuance rate (~3.9%), its cultural identity as a “people’s currency,” and the extreme concentration of holdings among top addresses.
DOGE Supply Age Distribution (Q2 2026)
| Age Band | % of Supply | Key Driver |
|---|---|---|
| < 1 year | ~40% | High trading velocity, exchange turnover |
| 1–3 years | ~25% | 2023–2025 accumulation |
| 3–5 years | ~20% | 2021 bull market buyers |
| 5+ years | ~15% | 2013–2019 vintage; includes 2013 genesis DOGE |
Sources: BitInfoCharts, CoinMetrics. ~150B DOGE total supply.
Dogecoin’s age pyramid is dramatically bottom-heavy: nearly 65% of all DOGE has moved within the last 3 years. Only about 15% of supply has been unmoved for 5+ years — compared to ~44% for Bitcoin. This reflects DOGE’s character as a high-velocity, culturally-driven asset where HODLing is less entrenched than in Bitcoin’s “digital gold” narrative.
The 2013 Genesis Vintage
Dogecoin launched in December 2013. The coins mined in that first month — before the January 2014 mining difficulty adjustment that followed DOGE’s viral surge — represent the deepest DOGE vintage layer. At the time, block rewards were random (0 to 1,000,000 DOGE), creating an unusual early distribution pattern.
| DOGE Vintage | Period | Est. Supply | Status |
|---|---|---|---|
| Genesis (Dec 2013) | First 4 weeks | ~5–8B DOGE | Mostly lost; some held by early adopters |
| Early (2014) | Pre-first-halving | ~98B DOGE | Heavily diluted; some dormant in old wallets |
| Mid (2015–2020) | Low-price era | ~25B DOGE | Moderate HODL profile |
| Late (2021–2026) | Post-hype era | ~22B DOGE | Young supply; active trading |
VI. Cross-Chain Age Pyramid Comparison
Bringing the four chains together into a single comparison reveals the structural differences in how they accumulate vintage:
Supply by Age Band — Four-Chain Comparison
| Age Band | Bitcoin | Ethereum | Litecoin | Dogecoin |
|---|---|---|---|---|
| < 1 year | 12% | 25% | 28% | 40% |
| 1–3 years | 13% | 35% | 22% | 25% |
| 3–5 years | 30% | 25% | 28% | 20% |
| 5+ years | 44% | 15% | 22% | 15% |
Pyramid Shape Classification
| Chain | Pyramid Shape | Dominant Age Band | Vintage Depth |
|---|---|---|---|
| Bitcoin | Top-Heavy | 5+ years (44%) | Deepest of all chains |
| Ethereum | Bimodal | 1-3 years (35%) | Moderate, staking-driven |
| Litecoin | Bell Curve | < 1 yr + 3-5 yr tied | Moderate, naturally distributed |
| Dogecoin | Bottom-Heavy | < 1 year (40%) | Shallow, high-velocity |
Effective Liquid Supply vs. Headline Supply
| Chain | Headline Supply | Est. Liquid Supply | Liquid Ratio | Implication |
|---|---|---|---|---|
| BTC | ~19.8M | ~5-6M | 25-30% | Most BTC is illiquid vintage |
| ETH | ~120M | ~80-90M | 65-75% | Large liquid pool despite staking |
| LTC | ~75M | ~55-60M | 73-80% | High liquidity; moderate hardening |
| DOGE | ~150B | ~130-140B | 85-93% | Near-full liquidity; minimal hardening |
VII. What the Age Pyramids Mean for Year-Asset Valuation
The shape of a chain’s age pyramid has direct implications for how its vintage coins should be valued.
1. Vintage Premium Potential
The premium commanded by old coins depends on the scarcity of old supply relative to total supply. A chain where 44% is 5+ years old (Bitcoin) creates a different premium structure than a chain where only 15% is 5+ years old (Dogecoin):
| Chain | 5+ Year Supply Share | Vintage Scarcity Score | Premium Potential |
|---|---|---|---|
| Bitcoin | 44% | ★★★★★ | Highest — absolute scarcity of truly liquid old coins |
| Litecoin | 22% | ★★★☆☆ | Moderate — old LTC is rarer than old BTC proportionally |
| Ethereum | 15% | ★★☆☆☆ | Low — staking inflates “aged” supply |
| Dogecoin | 15% | ★★☆☆☆ | Low — high issuance dilutes vintage signal |
2. The Paradox of Scarcity Ratios
Counterintuitively, a lower share of 5+ year supply can mean higher relative scarcity. Litecoin’s 5+ year cohort (~16.5M LTC) is smaller than Bitcoin’s 5+ year cohort (~8.7M BTC), but as a proportion of total supply, old LTC (22%) is rarer than old BTC (44%). This doesn’t mean old LTC should command a higher absolute premium — Bitcoin’s total market dominance ensures BTC vintage commands the highest nominal premium — but it does suggest that within Litecoin’s ecosystem, the vintage premium gradient should be steeper.
3. The 5-Year Inflection Rule
Across all four chains, the 5-year threshold marks the point where supply hardening accelerates. Coins that cross this boundary enter a regime where:
- The probability of movement drops below 12% annually
- The effective liquid supply of that vintage cohort shrinks by 12-18% per year
- The remaining coins are increasingly held by multi-cycle survivors
For year-asset collectors and vintage investors, the 5-year threshold is the most important demarcation line — it separates “old but potentially liquid” supply from “deep vintage” supply.
VIII. Conclusion: The Age Pyramid as a Classification Tool
The Age Pyramid Framework reveals that vintage is not a single property but a chain-specific spectrum. Bitcoin’s deep, top-heavy pyramid creates a fundamentally different year-asset landscape than Dogecoin’s shallow, bottom-heavy profile. Ethereum’s staking-driven bimodality and Litecoin’s bell-curve distribution each define their own vintage logic.
For EraDoge.com’s mission of classifying on-chain assets by vintage year, this framework provides a crucial insight: the same “year” means different things on different chains. A 2013 coin on Bitcoin (mined during the first bubble) is a different vintage asset than a 2013 coin on Dogecoin (mined during the first month of DOGE’s existence). The Age Pyramid helps us understand why — and how to value each accordingly.
As the cryptocurrency market matures, the supply age pyramids of all four chains will continue to evolve. Bitcoin’s will grow even more top-heavy as coins age past the 5-year threshold. Ethereum’s bimodal distribution may smooth as staking becomes normalized. Litecoin’s bell curve will likely shift rightward as more LTC crosses into the 5+ year band. And Dogecoin’s bottom-heavy profile will persist as long as its cultural velocity remains high.
The Age Pyramid is not a static snapshot — it is a living map of how time transforms digital scarcity, one block at a time.
— Encryption Archive · EraDoge.com