Sum Value of Payments (Xfers) Below $X (native units)
The sum of all payments (transfers) that have occured in the measuring interval below a specific USD amount, displayed in native units (e.g. BTC). This family of metric supports $100, $500, $1,000, and $10,000 USD value thresholds.
Name | MetricID | Category | Subcategory | Type | Unit | Interval |
Sum Value of Payments Below $100 (native units) | TxTfrValBelUSD100Ntv | Transactions | Transactions | Sum | Ntv | 1d |
Sum Value of Payments Below $500 (native units) | TxTfrValBelUSD500Ntv | Transactions | Transactions | Sum | Ntv | 1d |
Sum Value of Payments Below $1000 (native units) | TxTfrValBelUSD1kNtv | Transactions | Transactions | Sum | Ntv | 1d |
Sum Value of Payments Below $10000 (native units) | TxTfrValBelUSD10kNtv | Transactions | Transactions | Sum | Ntv | 1d |
- This metrics shows the sum of all of payments below each of the supported thresholds that have taken place within the measuring interval.
- 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.
- Consider that over the past day, only 4 payments have taken place in a network.
- Payment 1: $300 USD worth of BTC, or 0.0064 BTC
- Payment 2: $9,000 USD worth of BTC, or 0.19 BTC
- Payment 3: $400 USD worth of BTC, or 0.0086 BTC
- Payment 4: $30 USD worth of BTC, or 0.00064 BTC
- In light of the payments above, the results for this family of metrics would be
- Xfers Below $100, Sum (native units):
- 0.00064 BTC (only payment 4)
- Xfers Below $500, Sum (native units):
- 0.016 BTC (sum of payment 1 + payment 3 + payment 4)
- Xfers Below $1,000, Sum (native units):
- 0.016 BTC (sum of payment 1 + payment 3 + payment 4)
- Xfers Below $10,000, Sum (native units):
- 0.21 BTC (sum of payment 1 + payment 2 + payment 3 + payment 4)
- This thresholds in this metric can be used to better understand the type of users interacting with a cryptoasset network.
- For example, if a network is predominantly being used for retail transactions, one would expect the sum of payments under $100 to have a greater aggregate value than payments above $10,000.
- 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 5.0 release of NDP (August, 2021)