Liveliness
Tech spec
| Field | Value |
|---|---|
| API name (slug) | liveliness |
| 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: Measures Bitcoin’s economic activity by comparing coinblocks destroyed to coinblocks created.
Liveliness quantifies the degree of economic activity in the Bitcoin network, reflecting the balance between active and dormant supply. It ranges between 0 (no coins spent) and 1 (all coins spent within a single block).
Interpretation A decrease in Liveliness indicates a high proportion of the coin supply is dormant, and global coinblock accumulation is outpacing coinblock destruction via on-chain spending. Sideways trending Liveliness suggests that the volume of coinblock destruction is roughly equal to the volume of coinblock creation within the circulating supply.
Advanced Explanation Liveliness is calculated as the ratio of the cumulative sum of coinblocks destroyed to the cumulative sum of coinblocks created. This metric provides a dynamic view of the Bitcoin network's economic activity, reflecting how active or dormant the coin supply is at any given time.
Liveliness = ∑CBD / ∑CDC
where CBD is Coinblocks Destroyed and CDC is Coinblocks created
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/