Dashboard/Lab/Liveliness

Liveliness

Name: Bitcoin Liveliness (daily)
Creator: OnChainLab

Ratio of cumulative CDD to cumulative coin-days created. Rising = spending outpaces HODLing.

Current Value

0.6297

As of

2026-10-16

Z-Score

—

Signal

No threshold

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Methodology

Open, reproducible — computed from our own archive node

Definition

Liveliness — the ratio of all coin-days ever destroyed to all coin-days ever created. It is bounded in [0, 1] and measures whether the network is, on net, spending (rising) or HODLing (falling).

Formula

liveliness = cumsum(CDD) / cumsum(coin_days_created)

How we compute it

Coin-days created accrue each day equal to the live supply (every coin ages one day). We take the cumulative sum of CDD over the cumulative sum of created coin-days — the canonical (Tamás Blummer) construction, monotone-ish and bounded in [0, 1].

Provenance · Every on-chain metric traces back to our own self-hosted Bitcoin archive node — no third-party data vendor sits in the path. We extract the full UTXO lifecycle (each output's creation height/time, value, and the height/time it was later spent), join it against an independent USD price oracle, and roll it up into daily aggregates. The metric formulas are pure functions over those aggregates (src/pipeline/formulas.py), so any value on this page can be reproduced from the published daily archive.

Interpretation

Rising liveliness = spending outpaces HODLing (distribution). Falling liveliness = accumulation/HODLing dominates.

Caveats & limitations

·This is the FIXED definition. The legacy series divided daily CDD by a running sum of supply (wrong units) and then clipped to [0,1] to hide the breakage — pre-fix values are not comparable.

Data points: 6,491 rows, 2009-01-03 to 2026-10-16Open in Lab →

Current Liveliness reading

As of 2026-10-16, Bitcoin’s Liveliness is 0.630, compared with 0.627 one year earlier (2025-10-16). The series has 6,491 daily readings from 2009-01-03 to 2026-10-16, computed from our own full-archive Bitcoin node and refreshed every day.

Historical extremes

The highest Liveliness on record is 0.637 on 2025-12-10; the lowest is 0.000 on 2009-01-03. Readings near either end of that range have historically coincided with cycle turning points — use the chart above to see where today sits relative to past extremes.

Read it with

Velocity — How rapidly the supply circulates.
Velocity 7d — 7-day smoothed velocity.
Velocity 30d — 30-day smoothed velocity.
Velocity 90d — 90-day smoothed velocity.
Velocity Momentum — Rate of change in velocity.

Data & method

Source: computed from raw UTXO data on OnChainLab’s own Bitcoin node — no third-party data vendor. Category: Liveliness. Last updated 2026-10-16. The full series is free to download as JSON or as part of the full daily CSV, and the published dataset is cryptographically committed — you can verify it yourself. Browse all metrics.