NVT
Bitcoin
The Network Value to Transactions (NVT) ratio divides Bitcoin's market cap by its daily on-chain transfer volume.
Why it matters
It assesses whether price is justified by the economic value settled on-chain, like a price-to-earnings ratio.
How it is built
Market capitalization is divided by on-chain transaction volume, usually smoothed to reduce noise.
What to watch
High NVT warns price is rich relative to usage (froth); low NVT suggests value supported by real throughput.
Measured on this chain
NVT on Bitcoin last read 202.98 on Aug 24, 2026, a change of -52.01% over 30 days, ranging from 29.07 (Nov 22, 2025) to 967.14 (Mar 21, 2026).
- Latest reading
- 202.98
- Aug 24, 2026
- Change
- 1d -55.74%
- 30d -52.01%
- 90d -48.91%
- 1y -45.57%
- Range
- Low 29.07·Nov 22, 2025
- High 967.14·Mar 21, 2026
- Coverage
- Jul 19, 2024 — Aug 24, 2026
- 767 readings
| Date | Value |
|---|---|
| Aug 13, 2026 | 360.77 |
| Aug 14, 2026 | 335.4 |
| Aug 15, 2026 | 668.46 |
| Aug 16, 2026 | 677.3 |
| Aug 17, 2026 | 336.28 |
| Aug 18, 2026 | 288.1 |
| Aug 19, 2026 | 243.15 |
| Aug 20, 2026 | 190.31 |
| Aug 21, 2026 | 177.79 |
| Aug 22, 2026 | 377.83 |
| Aug 23, 2026 | 458.59 |
| Aug 24, 2026 | 202.98 |
Read from our own stored series, not quoted from a page.