Bitcoin Vaultedness

Understanding Vaultedness

The Vaultedness chart measures how much of Bitcoin's accumulated holding time remains stored in unspent outputs. It is 1 minus liveliness. Liveliness is the cumulative coinblocks destroyed divided by the cumulative coinblocks created, where one coinblock is one bitcoin held for one block.

How to Read It

A value nearer 1 means more holding time is still stored and less has been consumed by spending. The line moves slowly because it is built from cumulative totals. A sustained fall shows holders spending coins they had held for a long time, and a sustained rise shows coins aging in place.