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Unspent Transaction Output(UTXO) is one those unique architecture elements of crypto-assets that is often ignored in crypto-analytic metrics. At IntoTheBlock, we have been working on a series of models that leverage UTXO transactions to detect meaningful insights about the behavior of crypto assets. UTXOs record the time of every transaction in a target cryptocurrency so it can be used as a key dataset to estimate holding/spending trends and other momentum indicators. In the case of Bitcoin, there are close to 4 million Bitcoins held over 5 years while close to 480,000 bitcoins are being held between 1 and 7 days.