Institution Metrics (Time Series)

Payments (Xfers) Below $X, Sum (USD)

Definition

The sum of all payments (transfers) that have occured in the measuring interval below a specific USD amount, displayed in units of USD. This family of metric supports $100, $500, $1,000, and $10,000 USD value thresholds.

Name

MetricID

Category

Subcategory

Type

Unit

Interval

XfersBelow $100, Sum (USD)

TxTfrValBelUSD100USD

Transactions

Transactions

Sum

USD

1d

XfersBelow $500, Sum (USD)

TxTfrValBelUSD500USD

Transactions

Transactions

Sum

USD

1d

XfersBelow $1000, Sum (USD)

TxTfrValBelUSD1kUSD

Transactions

Transactions

Sum

USD

1d

XfersBelow $10000, Sum (USD)

TxTfrValBelUSD10kUSD

Transactions

Transactions

Sum

USD

1d

Details

  • 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.

Example

  • 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 (USD):

      • $30 USD (payment 4)

    • Xfers Below $500, Sum (USD):

      • $730 USD (sum of payment 1 + payment 3 + payment 4)

    • Xfers Below $1,000, Sum (USD):

      • $730 USD (sum of payment 1 + payment 3 + payment 4)

    • Xfers Below $10,000, Sum (USD):

      • $9,730 USD (sum of payment 1 + payment 2 + payment 3 + payment 4)

Interpretation

  • 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.

Release History

  • Released in the 5.0 release of NDP (August, 2021)