XBT Lock Pressure

Mining rewards locked since block 973,440, and how much of it has moved since the lock ended. Updated every hour.

What this chart shows

Locked rewards (orange) adds up every XBT paid to miners in blocks 973,440 to 979,919. The coinbase lock keeps all of it from moving. The dashed line projects where the total lands at block 979,920 at the current pace.

Moved since release (green) counts locked rewards that have actually been spent on chain after the lock ends. Still unmoved (blue) is what's left. The gap between them is the real pressure: coins that could be sold but haven't been.

Days of volume compares the unmoved XBT with the last 24 hours of exchange trading. It's a rough sense of size: how many days of today's trading the locked coins would take to absorb if all of them were sold. Most won't be.

Why it ends with a cliff

By consensus, the lock switches off for every reward in the window at once at block 979,920, expected around Nov 1. Knots nodes add a relay rule that only passes along spends of rewards at least 6,480 blocks old, so through Knots mempools they free up about one block's reward at a time. Pools that build their own blocks don't need relay. Why it's a cliff, not a drip · What Knots PR #429 would change

Source: xbt.live lock tracker, which reads every coinbase in the window and scans each block after the release for spends of them. Volume from NeoxEX and other tracked venues. Free to share and embed, please credit xbt.live. Not financial advice.

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Unlock countdown · Halving progress · Hash Price · XBT/BTC Ratio · All charts