ETH: Apparent Demand (365-Day)

Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.

The ETH issued over the last 365 days, minus the ETH burned, minus the change over the same days in the ether that has not moved for at least a year: a supply and inventory view of demand.

Why use it. Ether unmoved for a year is inventory; net issuance is production. Net production that does not go into inventory, plus any inventory drawn down, is taken as demand. How to read it. Positive: the market absorbed new and released ether; negative: more ether went dormant than came to market. The longer windows show the trend the 30-day reading swings around. Watch direction and turns.

Calculation. Sum of daily issuance over 365 UTC days − (burned supply at the end − at the start) − (ether in the age bands from 1 year up at the end − at the start). Computed from the published Ethereum Issuance, Burned Supply, Supply by Age and Realized Cap by Age charts of our own archive node: coin age and cost basis follow each address's own coins first in, first out, so moves between one owner's addresses count as spends; ETH staked on the consensus layer is not included. Closed UTC days only, recomputed every hour; values take the finality of their inputs.