Puell Multiple, 30-Day compares today’s issuance value in USD with its 30-day average. It asks the same core miner-issuance question as the canonical Puell line, but on a one-month baseline built for speed rather than cycle stability.
A rising series means miner issuance value is accelerating relative to the last month. A falling series means recent issuance conditions are deteriorating. It is most informative as a fast companion to the 365-day and 128-day variants.
The main caveat is responsiveness itself. This window turns quickly, but it also carries more noise, so sharp moves can reflect short-lived market changes that do not matter much in the broader cycle.
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