Vaulted_Cap

Tech spec

Brief Description: The Bitcoin capitalization considered inactive, dormant, or potentially lost.

Vaulted_Cap is a measure of the 'locked', 'inactive', 'dormant', 'unmoved', or otherwise 'lost' portion of Bitcoin's capitalization. It is quantified as the ratio between the Vaulted_Cap and the Market Cap. This metric reflects the Bitcoin's capitalization that is not actively circulating in the market.

It is based on the Cointime Economic framework.

Interpretation A decreasing Vaultedness might suggest increased liquidity and active trading in the market, while a higher Vaultedness could indicate a trend towards long-term holding or a loss of coins. This metric is important for understanding the distribution of Bitcoin across different types of holders and their impact on the market dynamics.

Advanced Explanation ALIASNAMEitalization takes into account those segments of Bitcoin's supply that are not actively traded or moved. This includes bitcoins that are held in long-term storage or have potentially been lost. Over time, the proportion of Bitcoin's capitalization represented by the Vaulted_Cap can provide insights into market behavior and the evolving dynamics of Bitcoin holding patterns.

Vaulted_Cap = Market Cap - Active Cap
(A more fundamental formula should exist)

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/