Bitcoin's price adjusted for monetary inflation (M2 money supply growth). Shows Bitcoin's real purchasing power value over time by removing the effects of currency debasement.
Useful for long-term investors to assess real returns. Bitcoin's inflation-adjusted performance may differ significantly from nominal price performance during periods of aggressive monetary expansion.
Network Value to Transaction Price — derived from the NVT ratio, this metric estimates a fair value for Bitcoin based on its on-chain transaction volume, similar to using P/E ratios to value stocks.
An enhanced version of the Realised Price that adjusts for lost coins and very old UTXOs. Provides a more accurate representation of the active market's aggregate cost basis.
Active Value to Investor Value — a refined version of MVRV that adjusts for active supply and investor behavior. Provides a cleaner signal of market valuation by filtering out dormant and lost coins.
The aggregate cost basis of all Bitcoin in circulation, calculated by dividing the Realised Cap by the total supply. Each UTXO is valued at the price it was last moved. This creates an on-chain average purchase price for the entire network.