P2TR Growth Rate
30-day change (in percentage points) of the P2TR output share - bounded adoption momentum of Taproot since the BIP340-342 activation (November 2021). Measures how fast the Taproot output share is gaining ground.
What is it?
P2TR (Pay-to-Taproot) is the format introduced by BIP340-342 in November 2021, integrating Schnorr signatures, MuSig aggregation, and Tapscripts. This metric measures the 30-day change, in percentage points, of the P2TR output share (P2TR / total outputs, 1-week rolling). A positive value means the Taproot share is gaining ground; a negative value means a temporary pullback. Measuring the change in percentage points (rather than a relative rate) keeps the indicator bounded and avoids the explosive artefacts caused by a near-zero base just after activation.
How to read
The vertical axis is a 30-day change in percentage points. A zone around zero indicates a stable pace. Positive values correspond to phases where the Taproot share advances (compatible wallet deployments, Ordinals inscription waves). Crossings into negative territory indicate temporary pullbacks of the share. The indicator is bounded by construction: the share being between 0 and 100, its 30-day change stays small in amplitude.
Key zones
Pre-2021-11-14: the P2TR share is zero (format does not exist), so the change is zero. Expansion phase (post-activation): positive values when adoption accelerates, punctuated by protocol waves. Stabilisation phase: values close to zero reflecting a Taproot share that plateaus. Occasional negative values indicate a temporary pullback of the share in favour of other formats.
What to observe
Watch the correlations between growth peaks and protocol events: Ordinals deployment (January 2023), BRC-20 (March 2023), Runes (April 2024). Compare the dynamic with P2WPKH (#367) to assess substitution speed. Sustained growth phases suggest Taproot is becoming the reference format for new outputs.
Historical context
Taproot was activated via the BIP9 mechanism then Speedy Trial on 14 November 2021. Initial adoption was slow - few compatible wallets, few applications. The major turning point is the arrival of Ordinals inscriptions on 20 January 2023, which propelled P2TR usage to unprecedented levels. The BRC-20 and Runes protocols extended this dynamic.
Expert notes
This metric measures the percentage-point change of the P2TR output share among ALL output types (1-week rolling). It differs from the prod metric `script-migration-momentum` which computes the change of the P2TR share among only FOUR counted types (P2TR + P2WPKH + P2SH + P2PKH), a restricted denominator. Using a percentage-point change (not a relative rate) is deliberate: it keeps the indicator bounded and stable, whereas a relative rate on the raw output count would produce explosive artefacts when the base is near zero just after activation.
Common mistakes to avoid
Do not confuse with the prod metric `taproot-segwit-race` (alignment of curves post-respective activation) or `taproot-adoption` (count share, not a change) or `script-migration-momentum` (change of the share among 4 counted types, restricted denominator). This metric #369 measures the change, in percentage points, of the P2TR share among all outputs - a bounded adoption velocity. A value is NOT a relative rate; it indicates by how many points the share moved over 30 days.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/p2tr-growth-rate/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "p2tr-growth-rate",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
Related metrics
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.