> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dune.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Transactions

> Understanding transactions as a foundational component of the Dune Index

<Warning>
  **The Dune Index has been sunset.** The underlying methodology and queries remain accessible. See the [introduction page](/data-catalog/dune-index/introduction) for details on how to continue using this data.
</Warning>

## Overview

The transaction component of the Dune Index measures blockchain activity by counting transactions that transfer at least 1 USD in value. This filtered approach helps focus on meaningful economic activity while maintaining a simple, verifiable methodology.

## Methodology

The transaction metric employs a straightforward filtering approach:

1. Base Criteria
   * Count only transactions with transfers of \$1 or more
   * Convert all token transfers to USD value at time of transaction
   * Include both native token and token contract transfers

2. Rationale
   * \$1 threshold excludes dust transactions and spam
   * Low threshold maintains inclusivity of meaningful activity
   * Simple criteria enables consistent cross-chain comparison

3. Implementation
   * Track successful transfers only
   * Calculate USD value at transaction time
   * Aggregate across all supported token types

<CardGroup cols={1}>
  <Card title="Transactions Metrics Code" icon="code" href="https://github.com/duneanalytics/spellbook/tree/main/dbt_subprojects/daily_spellbook/models/_metrics/transactions">
    View the source code for the transactions metrics implementation.
  </Card>
</CardGroup>

## Technical Considerations

Several factors influence transaction counting:

1. Value Calculation
   * Use time-weighted token prices
   * Account for token decimals and precision
   * Handle cases of missing price data

2. Cross-Chain Standardization
   * Apply consistent \$1 threshold across networks
   * Account for different token value representations
   * Handle multi-token transactions appropriately

## Limitations

Understanding the metric's limitations is crucial:

1. Threshold Effects
   * May exclude some meaningful sub-\$1 activity
   * Still includes some non-meaningful activity above \$1
   * Value threshold is nominal, not inflation-adjusted

2. Technical Constraints
   * Requires reliable price data for all tokens
   * Must handle complex transaction types consistently
   * Network upgrades may affect transaction classification

## Usage Guidelines

When analyzing transaction data:

1. Trend Analysis
   * Focus on directional changes over time
   * Compare across similar time periods
   * Consider seasonal and cyclical patterns

2. Context
   * Use alongside other Dune Index components
   * Consider network-specific factors
   * Account for major protocol changes

The transaction count provides a foundational measure of blockchain adoption while the \$1 threshold helps filter out noise, making it a valuable component of the Dune Index despite its inherent limitations.