MSOL_excl_churn
Tech spec
| Field | Value |
|---|---|
| API name (slug) | msol_excl_churn |
| Group | utxo dormancy |
| Unit / Valuetype | days / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/utxo_dormancy |
| Tier | 0 |
| Last updated | 2025-08-20 17:40 UTC |
| Docs | Open in Swagger |
Brief Description: Median lifespan of UTXOs spent measured in days.
MSOL_excl_churn measures the typical dormancy of Bitcoin before being spent, providing insights into the behavior of short-term and long-term holders.
Metric variants
- _non_churn: all spent utxo with a lifespan of less than 1h is excluded from the analysis. It useful to filter out transactions that are not economically meaningful, such as relay transactions and mixer.
Interpretation The measurement provides insights into the long-term versus short-term holding trends within the market.
In market analysis, a high MSOL_excl_churn suggests that long-term holders, who have not moved their bitcoins for a significant time, are starting to sell or trade, potentially implying a changing market sentiment or external economic factors at play. Conversely, a low MSOL_excl_churn indicates that newer coins, possibly held by short-term traders, are predominantly being transacted.
Advanced Explanation It is a qualitative metric that reflects the spending behavior of Bitcoin holders, showing the dormancy of bitcoins before they are moved. The MSOL_excl_churn quantifies the time bitcoins remain unspent before they're transacted. MSOL_excl_churn weights each UTXO equal, independent on their Bitcoin value.
MSOL_excl_churn = MEDIAN(Spent_UTXO_Age)
where Spent_UTXO_Age is the age (in days) of each spent UTXO