Daily count of transparent outputs created vs transparent inputs consumed. High churn with outputs exceeding inputs means the set of unspent transaction outputs (UTXOs) is growing. This metric is a proxy for transparent-layer activity independent of transaction value.
A UTXO is one unspent output. One wallet can hold hundreds; one output can hold any amount. So this counts pieces, and a rise means the transparent set is more fragmented — not that more people arrived and not that more value did.
This is the flow behind that stock. Outputs created against inputs consumed, per day. Outputs above inputs is the set growing; the gap, not either line, is what moves UTXO set size.
It is a proxy for transparent-layer activity that ignores value entirely, which is its point: a chain-wide consolidation and a wave of new small holders look identical on transaction counts and opposite here.