UTXOs

Contents

UTXO Mean Age (Days)

Definition

The simple average age in full days of all unspent transaction outputs. \

Release History

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

Interpretation

This metric calculates the average number of days an asset (e.g, BTC) is held between transactions. Note that it may be less robust to outliers than median and could be skewed by older addresses.

Availability for Assets

UTXO Median Age (Days)

Definition

The median age in full days of all unspent transaction outputs, rounded down to the nearest day.

Release History

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

Interpretation

This metric calculates the median number of days an asset (e.g, BTC) is held between transactions.

Availability for Assets

UTXO Val-Weighted Mean Age (Days)

Definition

The value-weighted average age in full days of all unspent transaction outputs.

Dictionary

Release History

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

Availability for Assets

UTXO Cnt

Definitions

The sum count of unspent transaction outputs that interval.

Details

  • Unspent Transaction Outputs (UTXOs) are cryptoasset balances that have been received by the output addresses listed in a transaction. As transactions are comprised of senders (input addresses) and receivers (output addresses), only the owner of output addresses can spend them after the transaction confirms. Said differently, UTXOs are balances received that have not yet been spent by their owners. Collectively, the UTXO set constitutes the current ownership state of a cryptonetwork. Bitcoin is the first and most predominant network that uses this structure, but there are several other UTXO-based chains.

Asset-Specific Details

  • For BTC and derivatives asset, it doesn’t include OP_RETURN outputs as they are provably unspendable.

Release History

  • Released in the 4.0 release of NDP

Interpretation

This metric gives a proxy for an asset’s ownership fragmentation. If there’s not a lot of unspent outputs, then there cannot be a lot of onchain owners. More broadly, the UTXO set count is an upper bound estimate on the number of people owning funds on-chain.

Availability for Assets

UTXO Age-Weighted Value (native units)

Definition

The sum product of age in full days and value in native units of all unspent transaction outputs.

Release History

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

Availability for Assets

API Endpoints

UTXO metrics can be accessed using these endpoints:

  • timeseries/asset-metrics

and by passing in the metric ID's UTXO* in the metrics parameter.

curl --compressed "https://api.coinmetrics.io/v4/timeseries/asset-metrics?metrics=UTXOAgeMean&assets=btc&pretty=true&api_key=<your_key>"

Last updated