Links
Comment on page

Puell Multiple, Total Issuance

Definition

The ratio of the USD value of all new issuance during the period to the 365-day moving average of the USD value of all new issuance.
Name
MetricID
Category
Subcategory
Type
Unit
Interval
Puell Multiple, Total Issuance
PuellMulTot
Supply
Issuance
Ratio
Dimensionless
365 days

Details

  • Computed as IssTotUSD/ma365(IssTotUSD)
  • Created by David Puell

Release History

  • Release Version: NDP-EOD 4.8 (Nov, 2020)

Interpretation

The Puell Multiple provides insight into market cycles from a mining revenue perspective. Because miners are sometimes considered compulsory sellers given their fixed costs (e.g., equipment, electricity), this metric provides insight into the supply side of a cryptoasset's economy. The idea being, that periods where the Puell Multiple is extremely low could be buying opportunities for investors, and periods where it is extremely high could indicate a profit-taking/selling opportunities.

See Also

Availability for Assets