Definition. Average Coin Dormancy is the average number of days destroyed per coin transacted, defined as the ratio of coin days destroyed to total transfer volume. Supply-Adjusted Dormancy is a related, normalized metric.

Technical. For BTC, coins returned to the sending address within the same transaction are not counted as spent. For all assets except BTC, coins spent are the net decrease of each address's balance, and coin age is the time since the address's balance-weighted average acquisition time. For ETH, transfer volume excludes internal transfers. For ETH tokens, burn addresses are excluded.

Notes. Created by Reginald Smith and David Puell. See Bitcoin Average Dormancy for the introduction.