Cointime Cap
Composite capitalization metric integrating both active and vaulted components. Provides a holistic view of economic weight across the entire UTXO set.
What is it?
Cointime Cap is the complete capitalisation measure of the Cointime framework. While Realized Cap simply sums realised values, Cointime Cap weights them by coinblocks (a unit combining BTC volume and holding duration in blocks). Active coins contribute at their current realised value, while dormant coins contribute at a depreciated value. It is the most sophisticated attempt to measure Bitcoin's 'true economic capitalisation' by accounting for the time factor.
How to read
Sits between Active Cap (floor) and Realized Cap (ceiling). Cointime Cap's relative position in this range indicates the network's dormancy degree. Closer to Active Cap = very dormant network; closer to Realized Cap = very active network.
Key zones
Key zones are relative: Cointime Cap's position between its two bounds (Active/Realized) is the main indicator rather than its absolute level.
What to observe
Convergence or divergence between Cointime Cap and Realized Cap indicates whether the network is activating (converging) or freezing (diverging). Trend transitions in this gap often precede price regime changes.
Historical context
Cointime Cap is a relatively recent metric (2023) but reconstructible over Bitcoin's entire history. Its main advantage over Realized Cap is reducing noise from Satoshi's coins, which weigh ~5% of Realized Cap but almost nothing of Cointime Cap due to their extreme dormancy.
Expert notes
Cointime Cap is the calculation base for Cointime Price (#48) and AVIV Ratio (#47). For academic use, reference the ARK/Puell 2023 paper that formalises the Cointime framework with mathematical rigour.
Common mistakes to avoid
Cointime Cap does not invalidate Realized Cap - it complements it. Both metrics answer different questions and are both useful in their respective contexts.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/cointime-cap/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "cointime-cap",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.