Coin_Blocks_Stored_total

Tech spec

Brief Description: The cumulative volume of coinblocks stored over time..

Coin_Blocks_Stored_total measures the accumulation of coinblocks (coin volume × lifespan) since the genesis block.

Interpretation Interpreting Coin_Blocks_Stored_total offers insights into the Bitcoin market and network dynamics. A rising Coin_Blocks_Stored_total suggests a trend towards holding or accumulation of Bitcoin, indicating that users are storing more coinblocks than they are spending. Conversely, a declining Coin_Blocks_Stored_total can imply increased spending or movement of Bitcoin.

Advanced Explanation The concept of Coin_Blocks_Stored_total involves analyzing the aggregate number of coinblocks stored over time. Coinblocks are defined as the unit of cointime, representing the product of coin volume and lifespan in blocks. When a Bitcoin is stored, the coinblocks are then accounted for in the Coin_Blocks_Stored_total metric. This metric is a comprehensive reflection of economic activity within the Bitcoin network, as it encapsulates the transactional movement and spending behavior of Bitcoin users.

Coin_Blocks_Stored_total is a primitive of cointime economics. Cointime Economics is a new framework for Bitcoin onchain analysis published by James Check and David Puell. References: https://ark-invest.com/white-papers/cointime-economics/ and https://insights.glassnode.com/introducing-cointime-economics/