Investorness
Tech spec
| Field | Value |
|---|---|
| API name (slug) | investorness |
| Group | cointime statistics |
| Unit / Valuetype | ratio / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/cointime_statistics |
| Tier | 0 |
| Last updated | 2025-08-25 18:32 UTC |
| Docs | Open in Swagger |
Brief Description: Reflects the contribution of investor-driven activities to Bitcoin’s Realized Cap.
Investorness is a metric in Bitcoin on-chain analysis that represents the relative contribution of transactions and trade by coin holders and investors, including investor-dependent entities like exchanges, to the valuation of Bitcoin’s Realized Cap. This metric highlights the growing influence of investor activity over Bitcoin's lifetime.
Interpretation An increasing trend in Investorness over time indicates a rising influence of investors in the Bitcoin market. This can be interpreted as a sign of the market's maturation, where investor-driven activities play a significant role in determining Bitcoin’s valuation.
Advanced Explanation Investorness measures the impact of investor behavior on the Realized Cap of Bitcoin. It considers the transactional and trading activities of both individual and institutional investors, along with entities heavily influenced by investors, such as cryptocurrency exchanges. The metric provides a quantitative view of how much these activities contribute to the overall valuation of Bitcoin’s Realized Cap.
Investorness = Investor Cap / Realized Cap
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/