A new system of Bitcoin economic metrics has been proposed by researchers from the ARK Invest investment firm and Glassnode market analytics.
ARK Invest and Glassnode have released white papers describing a proposed framework for analyzing Bitcoin on-chain metrics. The new method is called Cointime Economics and introduces a new measure – the coinblock – to represent the state of the Bitcoin network.
Thus, when long-dormant Bitcoins are moved, it is likely to be the action of hodlers and whales, and so more significant than actions with more newly mined Bitcoin. Lost Bitcoins do not count at all.
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