Coin Metrics has recalculated all Ethereum Standard Flow Metrics from the network’s genesis block as part of its Point-in-Time product release. This rebuild reveals a practical problem for backtests using exchange outflows as a trading signal, as past values can change when additional exchange wallets are identified. The key distinction opposes Standard metrics, which use all currently known addresses, to PIT metrics, which use only information available at each historical moment. Glassnode supplied a BTC illustration showing that changing the data version while keeping the trading rule fixed can produce different trading outcomes. Measuring the effect on ETH returns requires retaining pre-rebuild Standard values, maintaining a fixed trading rule and documenting the actual availability of each data point at the time of each decision.
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