Taproot Supply Ratio
Percentage of total circulating BTC supply held in Taproot (P2TR) UTXOs. A value-weighted view of the share held in this script type, unlike output count, which gives every output the same weight.
What is it?
The Taproot Supply Ratio is the share of total Bitcoin supply held in P2TR (Pay-to-Taproot) outputs. Unlike output count, which gives every output the same weight, this metric weights by the value held. It describes the share of supply sitting in this script type, not the number of users nor the quality of transfers.
How to read
A single area curve. In the initial phase after Taproot activation, the share stays low. The slope indicates how fast the held share changes. Comparison with the output share measures the gap between held value and output count. BTC price is overlaid to situate the period.
Key zones
Below 0.5%: low base. From 0.5 to 2%: still a low base. From 2 to 10%: intermediate share. Above 10%: high share. These bounds are reading references, not measured thresholds, and they do not qualify the holders.
What to observe
Discrete jumps indicate that a set of P2TR outputs was created over a short period; the chart does not say who did it. The long trend is the most stable reading. Price corrections do not change the held share, but they can coincide with coin movements.
Historical context
The P2WPKH supply share followed an S-curve after SegWit activation: slow, then faster, then close to a plateau. The P2TR share follows its own, more recent trajectory. Both metrics measure held value, not transaction count.
Expert notes
This ratio uses P2TR supply, the BTC unspent in P2TR outputs, divided by total supply. Total supply includes probably lost coins, about 3 to 4 million BTC, which slightly understates the share relative to active supply. For a narrower reading, the same quantity can be divided by supply moved over a recent window.
Common mistakes to avoid
This ratio does not measure user adoption. A single set of outputs can move the share; the chart does not identify the holder. The ratio can fall if BTC is spent from P2TR without replacement, which is normal output turnover. Finally, a high share says nothing about the quality of transfers.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/metrics/taproot-supply-ratio/data?timeframe=90d' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "taproot-supply-ratio",
"timeframe": "1y"
}Required tier: free. 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.