Entity-Adjusted Liveliness
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
Entity-Adjusted Liveliness is cumulative coin days destroyed divided by cumulative coin days created under an entity-adjusted accounting framework. Addresses inferred to share an owner are grouped to filter recognized internal movements, giving a unitless measure of age spending relative to age creation.
How to read it
Rising values indicate more accumulated age being spent relative to the creation baseline; falling values indicate stronger retention of unspent age. The series ranged from about 0.6196 to 0.6258 in 2022 and reached a record near 0.6343 on February 7, 2026. Small absolute changes can therefore describe meaningful shifts in a cumulative ratio.
Entity adjustment changes the age-accounting history, so the result is not guaranteed to sit below unadjusted Liveliness. Ownership inference can change, and transfers between distinct entities need not be sales. The ratio measures age activity, not the share of people trading.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- On-chain Indicators
- Type
- Single value
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
- Data points
- 6,507
FAQ
Why can entity-adjusted Liveliness exceed the unadjusted reading?
Filtering changes the historical accounting of accumulated and spent age, not merely today's transfer count. The two ratios can therefore have different cumulative baselines; entity adjustment is not a simple fixed discount.
Is a change from 0.620 to 0.625 only a tiny increase in trading volume?
It cannot be converted into trading volume. The move is 0.005 in a cumulative coin-age ratio and can arise from old holdings moving even when BTC transfer volume is modest.
Does this remove all exchange wallet activity?
It aims to remove recognized internal movements within an entity. Unidentified internal transfers can remain, while transfers involving distinct entities may still represent custody changes rather than market transactions.
