Bitcoin Days Destroyed

Bitcoin Days Destroyed weights the past dormancy of coins that have been transferred over any chosen period. The histogram of the percentage of Days Destroyed graphs distribution of dormancy over the measured period.

The graph is a histogram showing the percentage of total Days Destroyed from the measured period for each block. Thus it is a distribution of dormancy over the period, since block numbers are ascending forward in time.

Hoarding

Bitcoin Days Destroyed can tell us the percent of total coins are trading over any period of time, to the granularity (resolution) of a day. So for example, we can ask what percent of total coins have traded within the past day, or a specific day, week, month, year, or any period in the past.

So it can give us an indication of lower-bound percent of hoarding and duration of hoarding, but it will always understate the actual hoarding and duration, because due the anonymity there is no way to know if a Bitcoin transaction was a transfer to self.