Velocity of Money measures how many times the money supply changes hands in a given year.
The velocity is calculated as the sum of all non-coinbase transaction outputs for the last 365 days divided by the money supply at the time of measurement.
This method overestimates true velocity, since transaction output is not all economic activity.
For comparison, the United States M1 Velocity ranges between 3 and 11 over the last 50 years.