Even fiat has kind of slow settlement times.

Lyn Alden in BCB091, Solving The Money Velocity Problem | Blue Collar Bitcoin 📺
#123659
https://www.youtube.com/watch?v=vrM0V8jIxMs

In the last Tweet of this Twttter thread is:

Broad Summary: Settlement intermediates create time delay and require debt to function.

Because bitcoin can settle “physically” at the speed of light, money velocity is no longer constrained by debt.

https://twitter.com/lylepratt/status/1533609704244629507 [Nitter]

Here's a paper that looks at velocity of money for "crypto", but I didn't do much more than skim it.

Cryptocurrencies and the Velocity of Money
https://cryptoeconomicsystems.pubpub.org/pub/pernice-cryptocurrencies-velocity/release/9

Another paper that I didn't do much more than skimming for nuggets:

MicroVelocity: rethinking the Velocity of Money for digital currencies
https://arxiv.org/pdf/2201.13416.pdf

This following Reddit post (and concepts) is describing a somewhat related concept. It was interesting. Just thought I'ld share.

nobody seems to be discussing this (money theory and lightning network)
https://reddit.com/r/BitcoinMarkets/comments/8qtwvd [Teddit]