aCoinDays_sth
Tech spec
| Field | Value |
|---|---|
| API name (slug) | acoindays_sth |
| Group | utxo coindays |
| Unit / Valuetype | coindays / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/utxo_coindays |
| Tier | 0 |
| Last updated | 2025-08-19 19:58 UTC |
| Docs | Open in Swagger |
Brief Description: Aggregate CoinDays of Bitcoin held by Long-Term Holders.
aCoinDays_sth measures the total CoinDays accumulated by Bitcoin across the network, normalized by the total supply.
Metric variants
- _lth: aCoinDays_sth restricted to Long-Term Holders (age ≥ 155 days).
- _sth: aCoinDays_sth restricted to Short-Term Holders (age < 155 days).
Interpretation aCoinDays_sth increases most of the time with. Only during major (capitulation) market events or in the final stages of bull markets does aCoinDays_sth decrease. The metric can thus be used to gauge the maturity of investment and potential market pressure from large-scale selling.
Advanced Explanation Each unspent bitcoin in the network contributes to this metric by adding one 'coinday' to the total every day it remains unspent. The metric is here normalized by diving with the total supply. The formula for calculating aCoinDays_sth is:
aCoinDays_sth = ΣCoindays / Total_Supply
Where:
- ΣCoindays is the sum of all Coindays accrued by the network
- Total_Supply is the sum of all bitcoins minted into existence