CDD (Coin Days Destroyed)
Tracks the movement of coins based on how long they have remained dormant.
VDD Multiple data updated once per hour - Get 10 minutes
Price updated every 5 minutes - Get 10 seconds
The Value Days Destroyed (VDD) Multiple is a Bitcoin market indicator used to assess the strength of spending behavior over time by comparing short-term spending velocity to a yearly average.
It builds upon Coin Days Destroyed (CDD), which tracks how long coins remain unmoved on-chain before being spent.
By multiplying CDD by Bitcoin’s price, VDD allows for more accurate assessments of market activity as it adjusts for price fluctuations.
The VDD Multiple is calculated by dividing the 30-day moving average (MA30) of VDD by its 365-day moving average (MA365).
This comparison helps detect periods of overheating or undervaluation.
Extreme market tops
Bitcoin tops generally occur when long-term holders sell their coins, which typically aligns with the VDD Multiple exceeding 2.9, a threshold set by TXMC, the creator of VDD multiple.
VDD Multiple is above 2.9 during only 5% of Bitcoin’s history. This spike indicates heightened spending activity and often signals the end of euphoric bull runs.
Extreme market bottoms
On the other hand, a VDD Multiple below 0.75 suggests a bear market or accumulation phase, where old coins remain dormant, signaling a period of low activity.
A New Experiment in Cumulative Destruction - The original article by TXMC introducing the metric.
The table below shows how fast this chart data updates, depending on your account level.
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| Free | Bitbo Pro | Bitbo Pro++ | |
|---|---|---|---|
| VDD Multiple | 1 hour | 10 minutes | 5 minutes |
| Bitcoin Price | 5 minutes | 10 seconds | 5 seconds |
Tracks the movement of coins based on how long they have remained dormant.
Shows the short term holder realized price and the price of Bitcoin.
Realized price is the realized market cap divided by total amount of generated coins.