Total output volume may be a useful metric, since people may have used a Bitcoin transaction to move Bitcoin from one exchange to another. But a large amount of

Total output volume may be a useful metric, since people may have used a Bitcoin transaction to move Bitcoin from one exchange to another. But a large amount of Bitcoin can be sent in a single transaction. https://blockchain.info/charts/output-volume https://blockchain.info/charts/output-volume Another popular metric, since output volume can be pumped up by sending the same coins over and over gain, is Bitcoin Days Destroyed. https://blockchain.info/charts/bitcoin-days-destroyed-cumulative https://blockchain.info/charts/bitcoin-days-destroyed-cumula... http://bitcoin.stackexchange.com/questions/845/what-are-bitcoin-days-destroyed http://bitcoin.stackexchange.com/questions/845/what-are-bitc... Also transactions on the exchanges don't show up in the blockchain.