This divides the circulating coin into the portion doing economic work and the portion locked away. The line between them is drawn from observed behaviour, with no assertion whatsoever about whose wallets are involved.

The direction carries the signal. The level drifts too slowly with the age of the network to say much about the present, and reading it as a level is the usual way people get nothing out of this view.

What it actually measures

Anything that has stayed put long enough to qualify as put away goes on the stored side, and whatever is left goes on the working side. Each half is reported in coin rather than as a percentage, so how much is genuinely buyable can be read straight off.

Movement between the two is what matters. Coin crossing into the vault is coin no longer available to meet demand, and coin crossing out is float returning to the market.

The halves also behave differently under pressure. Active coin meets a bid without price having to move far, while vaulted coin only appears once price has risen enough to reach it, which is why a market with a small active half tends to move in larger steps.

Vaulting while price is flat is the reading to look for

The most informative configuration here is supply moving into storage while price does nothing. It means coin is being absorbed without the market having to raise its price to attract it, which is what accumulation looks like before it shows up anywhere else.

The opposite case, releasing into a rising price, is more ambiguous. Supply returning to the float during an advance can be distribution meeting demand, and it can equally be dormant coin repricing itself and going straight back to sleep.

What it does not tell you

Vaulted does not mean safe or committed. Lost coins sit in the vault permanently, so a share of the reading is coin that will never move again, and a lost key is not a decision anybody made about the market.

It also cannot tell you where the float went. Coin leaving the vault has changed behaviour, not necessarily hands, and the view cannot separate a holder preparing to sell from one reorganising storage.

There is also no hard line between the halves. The split is behavioural, so coin sitting near the boundary can cross back and forth without its owner doing anything different, which makes small wiggles in the reading worth less than they look.

How to read it

Vaulting. Coin is heading into storage, which drains the buyable pool.

Releasing. Locked-away coin is rejoining circulation, which refills the buyable pool.

The Dormancy dashboard draws Active vs Vaulted Supply alongside Vaultedness, Liveliness and A2VR.

Common questions

Which coins end up on the vaulted side?

Coin that has stayed put long enough to qualify as put away instead of working. The line is drawn from observed behaviour and asserts nothing about whose wallets are involved.

Why does direction matter more than level?

Because the standing figure creeps along with the age of the network itself. How quickly coin is entering or leaving storage is what describes conditions now.

What does vaulting during a flat price mean?

That coin is being soaked up without the market needing to bid higher to tempt it out, which is the textbook mark of accumulation.

Does a tight float push price up?

Not on its own. It means whatever demand arrives moves price further, in either direction, and a thin float cuts as sharply on the way down.

Where does Vaultedness fit?

Vaultedness reads the same split as a share of supply. This view reads it in coin, so the size of each half is visible directly.