CoinDaysDestroyed_LTH
Tech spec
| Field | Value |
|---|---|
| API name (slug) | coindays_destroyed_lth |
| Group | utxo dormancy |
| Unit / Valuetype | coindays / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/utxo_dormancy |
| Tier | 0 |
| Last updated | 2025-08-20 17:37 UTC |
| Docs | Open in Swagger |
Brief Description: Coin Days Destroyed (CDD) by UTXOs held for less than 155 days (Short-Term Holders) in the last day.
CoinDaysDestroyed_LTH measures the aggregate CDD from UTXOs held by Short-Term Holders (STH) that were spent within the previous day.
Metric variants
- _lth: CoinDaysDestroyed_LTH restricted to Long-Term Holders (age ≥ 155 days).
- _sth: CoinDaysDestroyed_LTH restricted to Short-Term Holders (age < 155 days).
- _non_churn: all spent outputs with a lifespan of less than 1h is excluded from the analysis.
- _normalized: normalized by the total Bitcoin supply.
Interpretation CoinDaysDestroyed_LTH is a lens through which one can gauge market behavior in Bitcoin. A high value indicates that a significant amount of bitcoins that were dormant for extended periods has been transferred, potentially signalling changes in market sentiment. This could suggest that long-term holders are taking profits or reallocating assets.
Conversely, low values of CoinDaysDestroyed_LTH imply that the market is largely driven by newer coins, which may suggest a trend of accumulation.
Advanced Explanation To understand CoinDaysDestroyed_LTH more technically, consider that each bitcoin generates one 'coinday' each day it remains unspent in a wallet. If a user holds 10 bitcoins for 10 days and then spends them, 100 'coindays' are destroyed.
CoinDaysDestroyed_LTH = ∑(Spent_UTXO_BTC_value * Spent_UTXO_Age)
where
- Spent_UTXO_BTC_value is the bitcoin value of each spent UTXO, with age > 155 days.
- Spent_UTXO_Age is the age (in days) of each spent UTXO, with age > 155 days.