Mcap to Thermocap

eCash

Market cap divided by thermocap.

Why it matters

It measures how much the market pays above the network's build cost.

Aggregated per day directly from the chain's own ledger — measured, not estimated or interpolated.

Low readings have coincided with cycle bottoms and high ones with tops — it is among the longest-memory metrics there is.

Mcap to Thermocap on eCash last read 2.75 on Sep 22, 2026, a change of +22.7% over 30 days, ranging from 1.54 (Jun 30, 2026) to 18.72 (Dec 5, 2024).

Read from our own stored series, not quoted from a page.