Mctc
Ethereum
The Market-Cap-to-Thermocap ratio, comparing ETH market value to cumulative security spending.
Why it matters
It gauges whether ETH is over- or under-valued relative to what has been paid to secure it.
How it is built
Market cap is divided by thermocap, the cumulative USD value of issuance paid to validators.
What to watch
A high MCTC suggests stretched valuation versus security cost; a low ratio suggests value.
Measured on this chain
Mctc on Ethereum last read 302.45B on Aug 24, 2026, a change of +32.47% over 30 days, ranging from 177.68B (Apr 8, 2025) to 584.41B (Aug 22, 2025).
- Latest reading
- 302.45B
- Aug 24, 2026
- Change
- 1d +1.33%
- 30d +32.47%
- 90d +19.97%
- 1y -47.71%
- Range
- Low 177.68B·Apr 8, 2025
- High 584.41B·Aug 22, 2025
- Coverage
- Jun 16, 2024 — Aug 24, 2026
- 800 readings
| Date | Value |
|---|---|
| Aug 13, 2026 | 229.23B |
| Aug 14, 2026 | 228.96B |
| Aug 15, 2026 | 229.75B |
| Aug 16, 2026 | 229.91B |
| Aug 17, 2026 | 232.9B |
| Aug 18, 2026 | 233.46B |
| Aug 19, 2026 | 254.55B |
| Aug 20, 2026 | 283.55B |
| Aug 21, 2026 | 295.74B |
| Aug 22, 2026 | 296.24B |
| Aug 23, 2026 | 298.5B |
| Aug 24, 2026 | 302.45B |
Read from our own stored series, not quoted from a page.