IvanApr 02, 2020
Normally metrics are computed with taking into account all coins/tokens.
For some metrics it makes sense to also compute a derivation of them on the subset of coins/tokens, that were moved at least once no longer than X days/years ago.
UTXO blockchain naturally define the age of a coin, but this is not true for account-based blockchains. In order to define the age of a coin in account-based blockchains we developed our own Coin Age Model
Timebound metrics names are formed from the original metric name plus a timebound suffix. Available timebound suffixes are:
_1d- 1 day
_7d- 7 days
_30d- 30 days
_60d- 2 months
_180d- 6 months
_365d- 1 year
_2y- 2 years
_3y- 3 years
_5y- 5 years
_10y- 10 yers
- mvrv_usd_30d - The MVRV metric computed by considering only the coins/tokens that were active in the past 30 days.
- circulation_3y - The number of tokens that were transacted at least once in the past 3 years. If a coin/token is considered dead/lost (sent to graveyard address, owner lost private key, etc.) such circulation can serve as an approximation of total supply minus lost/dead coins.
circulation_1d metric counts the number of coins/tokens that participated
in on-chain transactions in the past 24 hours.
In one particular day Alice sends 20 ETH to Bob, Bob sends 10 ETH to Charlie and Charlie sends 5 ETH to Dean.
1 2 3 4 5 6
Alice -- 20 ETH --> Bob | 10 ETH | v Dean <-- 5 ETH -- Charlie
In this scenario the transaction volume is 20 + 10 + 5 = 35 ETH, but the ETH in circulation is 20 ETH.
This can be explained as having twenty $1 bills. Alice sends all of them to Bob, Bob sends 10 of the received bills to Charlie and Charlie sends 5 of them to Dean. There are 20 dollars in circulation total in this case.
One of the most useful properities of Circulation is that it is immune to mixers and gives a much better view of the actual amount of tokens that are being transacted on-chain.