Sum Value of Payments (Xfers) Above $X (native units)
The sum of all payments (transfers) that have occured in the measuring interval above a specific USD amount, displayed in native units (e.g. BTC). This family of metric supports $100k, $1M, $10M, and $100M USD value thresholds.
- This metrics shows the sum of payments above each of the supported thresholds.
- Payments are defined as transfers (xfers) and represent the individual asset transfers within a transaction.
- A transaction may be a collection of transfers which, specially in UTXO-based blockchains, may represent several P2P payments.
- A cryptoasset exchange, for example, may engage in transaction batching whereby user withdraws are aggregated in a single transaction comprised of multiple outputs.
- Each of the outputs represents a transfer. And while each transfer (output) may be going to different users, they are all processed within the same transaction.
- For this reason, this metric is calculated at the transfer-level so all individual payments are accounted for.
- In this version of this metric, change outputs are not adjusted. This means not only peer-to-peer tranfers are accounted for, but also when a user sends fund to their own wallets.
- For example, if after paying each of the users withdrawing, the exchange still has a remaining balance, the change output is still accounted for in this metric if it falls below the metric's threshold.
- In other words, if the recipients listed in a transaction's output require payments that, when added together, have a value that is lower than the input, a change output that goes back to the sender must be created. In such circumstances, this metric would also account for the change output if it fell under the measuring threshold.
- The thresholds supported by this metric family can be used to better understand the type of users interacting with a cryptoasset network.
- For example, if a network is predominantly being used by whales, one would expect payments above $1M USD to occur more frequently than payments below $10 USD.
- Similarly, it can show the predominance of different types of investors, such the balance between retail and institutional investors within a network.
- Released in the 5.1 version of NDP