On-Chain Velocity
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
On-Chain Velocity divides the BTC volume transferred on-chain during a day by circulating BTC supply. It is a daily turnover ratio displayed as a percentage: repeated movements can count multiple times, so the result is not bounded by 100%.
How to read it
Higher velocity means more on-chain volume relative to supply, while lower readings mean less circulation on this measure. At the 2016, 2020 and 2024 halving dates, readings were about 8.42%, 3.88% and 0.48% respectively, illustrating how the background turnover scale has changed rather than establishing a halving rule.
Wallet reshuffles and repeated transfers can inflate the numerator without an economic payment. Trading inside exchange ledgers and second layers is absent from this main-chain flow, so lower velocity alone does not establish declining demand or give a price direction.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- On-chain Indicators
- Type
- Single value
- Data since
- 2009-01-12
- Latest data
- 2026-10-27
- Data points
- 6,498
FAQ
Why can Bitcoin velocity exceed 100% in a day?
It measures volume divided by supply, not the share of unique coins that moved. The recorded high was 4.395 on January 24, 2016, displayed as 439.5%; repeated movement can create volume greater than supply.
Is this Bitcoin's annual velocity?
No. This page uses daily transfer volume and shows daily turnover as a percentage. A raw value of 0.01 corresponds to 1% for that day, not one turnover per year.
Does velocity measure Bitcoin exchange trading volume?
No. It follows transfers confirmed on the Bitcoin chain. Trades matched on an exchange's internal ledger do not enter the numerator unless they lead to an on-chain transfer.
