Script Migration Momentum
30-day rolling rate-of-change of each script type's market share by output count. Positive values indicate adoption acceleration, negative values mark decline. Reveals regime shifts in Bitcoin's protocol evolution.
What is it?
Script Migration Momentum measures the speed at which Bitcoin output composition changes between the two dominant script types: P2TR (Taproot) and P2WPKH (native SegWit). For each script, it computes the share of daily outputs, then the 30-day rolling rate of change of that share in percentage points. A positive value means the script's share is rising, a negative value means it is falling. The two curves show how the composition moves between SegWit and Taproot.
How to read
Two curves: P2TR Momentum (blue, primary) and P2WPKH Momentum (purple, secondary). Above zero, the script's share is rising. Below, it is falling. Amplitude shows the rate of change in percentage points over 30 days. A crossover, a curve moving from positive to negative, marks a change in the direction of the share. Sudden moves in the P2TR share are distinguishable from gradual trends.
Key zones
P2TR momentum above +2% per month: the share is accelerating. P2PKH momentum below -1% per month: the legacy share is falling faster. P2WPKH momentum near 0: a dominant share evolving slowly. P2TR momentum inversions, positive to negative, mark a change in the direction of the share without indicating its cause.
What to observe
The interaction between curves is more informative than any single curve. When P2TR accelerates and P2PKH decelerates, the P2TR share rises while the legacy share falls. When P2TR accelerates without P2WPKH decelerating, the P2TR share rises without a corresponding fall in the P2WPKH share over the window. The total also includes uncounted types, so the shares do not offset exactly.
Historical context
The P2PKH to P2WPKH migration was long: from 2017, SegWit activation, to 2023, P2WPKH progressively captured the majority of outputs. P2SH has been declining since 2021. P2TR alternates between sudden moves and slow growth of its base. The observed composition also depends on uncounted types, P2MS, P2WSH and OP_RETURN.
Expert notes
The 30-day momentum is a bandpass filter: it removes daily noise while capturing monthly trends. A shorter 7-day filter would be too noisy for low-volume script types. The sum of the four momentums should theoretically be zero, since the shares total 100%, but rounding and excluded minor types, P2MS, P2WSH and OP_RETURN, create a slight residual.
Common mistakes to avoid
Positive momentum does not mean the script type is winning in absolute terms. It means its share is increasing. A script with a 2% share and +5% momentum still has about 2.1%, it remains marginal. The absolute magnitude of the share must always be read alongside the momentum.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/metrics/script-migration-momentum/data?timeframe=90d' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "script-migration-momentum",
"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.