Bitcoin Lab Methods

RBNv12 is the analytical engine providing data for Bitcoin Lab Charts | API | Pulse by researchbitcoin.net. It analyzes Bitcoin directly from our Bitcoin nodes. It reads full block data, maintains its own live UTXO set, and continuously calculated on-chain metrics. It provides near real-time data.

RBNv12 tracks metrics such as supply, realized cap, unrealized profit and loss, realized profit and loss, coin days destroyed, coin blocks destroyed, transaction volume, UTXO age, UTXO value cohorts, script types, URPD, address balance groups, and long-term versus short-term holder cohorts. Over 350 metrics is covered.

Data Period Aggregation

Most raw analysis is produced at block level. Aggregated datasets are then built for broader time intervals, including 1h, 4h, 8h, 12h, and daily views.

No Entity Clustering,

RBNv12 does not cluster addresses or UTXOs into entities. It does not attempt to identify exchanges, ETFs, custodians, wallets, or individuals.

Address metrics are address-level metrics, not entity-level metrics. They should not be interpreted as the number of users or holders.

This approach is intentional. Entity clustering is probabilistic, changes over time, and can be distorted by wallet behavior, exchange practices, privacy tools, Taproot, SegWit, and other changes in Bitcoin usage. RBNv12 prioritizes reproducible on-chain data over inferred entity labels.

We have previously applied entity clustering, but have abandoned it. Why? We simply do not trust such data. We firmly believe history will show that the best on-chain data is pure on-chain data.

Data Integrity

Bitcoin Core is treated as the source of truth.