Puell Multiple
Zcash
The dollar value of daily issuance divided by its yearly average.
Why it matters
David Puell's metric: deep troughs have coincided with cycle bottoms and high peaks with tops.
How it is built
Aggregated per day directly from the chain's own ledger — measured, not estimated or interpolated.
What to watch
It measures miner sell pressure relative to their own norm.
Measured on this chain
Puell Multiple on Zcash last read 2.72 on Sep 22, 2026, a change of +49.04% over 30 days, ranging from 0.4694 (Mar 12, 2025) to 164.98 (Nov 24, 2025).
- Latest reading
- 2.72
- Sep 22, 2026
- Change
- 1d -6.85%
- 30d +49.04%
- 90d +136.89%
- 1y +182.06%
- Range
- Low 0.4694·Mar 12, 2025
- High 164.98·Nov 24, 2025
- Coverage
- Jul 15, 2024 — Sep 22, 2026
- 800 readings
| Date | Value |
|---|---|
| Sep 11, 2026 | 2.19 |
| Sep 12, 2026 | 2.28 |
| Sep 13, 2026 | 2.12 |
| Sep 14, 2026 | 2.21 |
| Sep 15, 2026 | 2.18 |
| Sep 16, 2026 | 2.37 |
| Sep 17, 2026 | 2.59 |
| Sep 18, 2026 | 2.78 |
| Sep 19, 2026 | 2.91 |
| Sep 20, 2026 | 2.73 |
| Sep 21, 2026 | 2.92 |
| Sep 22, 2026 | 2.72 |
Read from our own stored series, not quoted from a page.