Explicit RBF Signaling
Daily share of transactions signalling replaceability under BIP 125
Short ranges plot one point per block, about one every ten minutes. Longer ranges plot one point per day, computed from every block in that day. How it is computed depends on the chart: some average, some total the day up, some are a ratio of the day's sums, and each chart says which. Either way a brief spike inside a day is smoothed away.
About this metric
Definition
The share of transactions that said, when they were sent, that they might be replaced by a higher-fee version. It is a signal carried in the transaction rather than a thing that happened: it says a replacement is permitted, not that anyone sent one.
The share passed half of all transactions in 2023 and has run between roughly a half and four fifths of them month by month since. Nothing is plotted before February 2016, when Bitcoin Core 0.12.0 gave the sequence number this meaning. Since version 28 the default is to accept a replacement whether or not the original signalled, so the line measures what senders declare rather than what nodes will allow.
How it is measured
A transaction signals by setting at least one input's sequence number below 0xfffffffe, and it counts once here however many of its inputs carry the flag.
A rising line is not the same as rising wallet capability, in either direction. A wallet can set the flag by default without its user ever bumping a fee, and under full replace-by-fee it can bump a transaction that never signalled at all. Bitcoin Core 0.12.0 shipped the replacement rule while its own wallet still could not build a transaction that took advantage of it.
Measured from my own Bitcoin node. Methodology