Value Days Destroyed Multiple

Value Days Destroyed is the dollar-weighted upgrade of Coin Days Destroyed: each day's CDD is multiplied by price to get the dollar value of dormancy destroyed, then divided by its trailing 365-day average, producing a multiple oscillating around 1. It asks: is old-coin cash-out activity, in dollar terms, running hot or cold versus the past year's norm?

VDD = daily CDD × price; VDD Multiple = today's VDD ÷ its 365-day average. The yearly-average denominator auto-scales the metric across cycles, keeping historical readings directly comparable.

Rising prices amplify the dollar value of the same coin-day destruction, so VDD is especially sensitive to high-price distribution: when long-term holders sell aged coins into late-bull strength, the multiple pushes well above 1 into its upper zone. In bear markets, even active old coins produce muted readings at depressed prices.

Well above 1 (red zone): heavy old-coin monetization at high prices — historically overlapping cycle tops. Well below 1 (green zone): long-term holders dormant — typical of bear-market bottoms and accumulation. Around 1: normal conditions. As with CDD, exchange wallet reshuffles can also trigger spikes, so confirm with raw CDD and exchange-inflow data.

Alongside holder behavior, watch short-term leverage via BTC liquidations and funding rates.