Cryptocurrency analysis firm Alphractal has shared a new assessment highlighting long-term investor behavior in the market. According to the company’s report, the “Lost Coins” metric is an often-overlooked but important indicator in crypto cycles. Alphractal stated that coins of UTXO-based cryptocurrencies like Bitcoin, Dogecoin, and Litecoin that have never been moved are defined as “lost coins.” The company noted that as prices rise, the motivation for long-term investors to move their coins increases. He added that this value typically declines during strong bull rallies, but most analysts ignore this effect.