A year of coins moved, divided by the coins our ledger holds (outputs of 0.01 BTC and up): 15 means the year moved fifteen times the supply — not that a typical coin moved fifteen times. Bold line = 30-day average.
×14.67 coins moved in a year, per coin our ledger holds on Oct-22 2026, the last day in this build, measured and published by askthetape.com.
Money that sits still and money that runs around are different things even when the pile is the same size. Velocity measures the running: add up the coins that changed hands over the past year and divide by the coins our ledger holds (outputs of 0.01 BTC and up). Fifteen means the year's movement came to fifteen times that supply, not that a typical coin moved fifteen times. It fell through the 2020s as more coins went into cold storage and into funds, and it jumps when exchanges shuffle. The second view is the raw daily leg it is built from — the coins that actually moved that day, nothing smoothed.
| leg | our own copy of the UTXO ledger (it was built once from a public chain archive and has been extended block by block from our own node since 2026-07-23): every output of 0.01 BTC and up, with the day it was created and the day it was spent (6,797,539 rows on this build, ledger to 2026-10-22) × exchanges' published daily closes (Bitstamp from Aug-18 2011; the Mt.Gox tape before) · velocity = 365-day mean of daily coins moved × 365 ÷ coins alive |
|---|---|
| cadence | daily |
| since | 2009-01-03 |
| note | this counts every output of 0.01 BTC and up that was spent, including an exchange moving its own coins between its own wallets and the change coming back from a payment. Nobody can separate those two from the chain alone without guessing at who owns what, and this page does not guess. |
| policy | no backfill · read it here · export: whole history |
| hourly window · where it comes from | Selected hourly spent-output series from January 2009 to 15 November 2025 use a public chain archive, recomputed with our own formulas. From 16 November 2025, those series use spent-output events read from our own Bitcoin node. Outputs below 0.01 BTC are excluded. Coverage and age rules vary by key; unverified historical zero-fill is blank and flagged. Historical publication times are not recorded. Native-only lines retain their own shorter coverage; exact coverage and formulas are listed per key in the export definitions. |
| hourly window · how the hours fold | A FLOW: the coins that moved in the hour ADD UP to the day. Velocity itself is a rolling 365 days and is not in this window. «N hours» in the window's own header means BUCKETS WITH DATA, not the distance from the first point to the last — the header prints both. Selected spent-output flows are zero in verified no-block hours; ratios, states and other missing observations remain blank. Block counts are a separate series where present, and describe the native node segment only. |
| hourly window · what this ledger cannot see | the ledger does not see outputs below 0.01 BTC — that is 87,202 BTC, 0.434 % of the coins alive on 2026-10-22, measured against what our own node counts as mined (the scheduled subsidy of every block header it holds). It is a threshold, not a fault, and it is the same threshold the daily page carries. |
| hourly window · which price | No price enters the selected spent-output flow or age-ratio formulas. Calendar-day age uses UTC date differences; fractional-age and stock-derived native lines retain their separate definitions and shorter coverage. |
| hourly window · one line or two | Definitions identify the coverage and formula of each line. Calendar-day-age and fractional-age measures remain separate; the earlier history applies only to the selected spent-output series. |
| hourly window · judged | This comparison covers the native node segment from 16 November 2025 only: 🩸 12 birth × spend cells on 3 of 341 closed days differ from the daily ledger of our own node — see the judge log; this window is not vouched for until that is explained. Judge run 2026-10-23, 13.3 hours ago. The judge runs daily against the daily ledger of our own node; a day the 35-day carrier no longer holds is not judged rather than counted as a difference. |
| this build | data to Oct-22 2026 |
| policy | no backfill · read it here · export: whole history |
The chart itself is drawn in the browser: turn JavaScript on to hover a day, pick a window and draw your line. The numbers above come from the last build, Oct-23 2026 21:24Z.
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