Comparison on Chain Adjusted on Chain Volume Daily
Bitcoin
The 7-day moving average of the daily USD value transferred on-chain for BTC, adjusted to exclude non-economic transfers.
Why it matters
To measure genuine settlement demand moving through the BTC network, filtering out noise like exchange-internal shuffling.
How it is built
Calculating the daily USD value of on-chain transfers after removing self-payments and change outputs, then smoothing with a seven-day rolling average.
What to watch
Sustained growth in adjusted volume points to rising real economic use of the network, while divergence from price can signal shifting fundamentals.
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