NVT Ratio
Zcash
Market cap divided by daily transfer volume in dollars — a price-to-earnings for a network.
Why it matters
High means valuation running ahead of use; low means use running ahead of valuation.
How it is built
Aggregated per day directly from the chain's own ledger — measured, not estimated or interpolated.
What to watch
**Zcash's reading looks far lower than Bitcoin's** because the UTXO model counts change returned to the sender inside volume — so compare the metric against its own history, not across chains.
Measured on this chain
NVT Ratio on Zcash last read 24.76 on Sep 22, 2026, a change of +59.23% over 30 days, ranging from 0.2313 (Apr 15, 2025) to 401.96 (Jan 4, 2025).
- Latest reading
- 24.76
- Sep 22, 2026
- Change
- 1d +507.44%
- 30d +59.23%
- 90d -29.84%
- 1y -52.92%
- Range
- Low 0.2313·Apr 15, 2025
- High 401.96·Jan 4, 2025
- Coverage
- Jul 15, 2024 — Sep 22, 2026
- 800 readings
| Date | Value |
|---|---|
| Sep 11, 2026 | 10.56 |
| Sep 12, 2026 | 37.14 |
| Sep 13, 2026 | 25.53 |
| Sep 14, 2026 | 10.59 |
| Sep 15, 2026 | 10.9 |
| Sep 16, 2026 | 8.54 |
| Sep 17, 2026 | 2.62 |
| Sep 18, 2026 | 4.82 |
| Sep 19, 2026 | 6.12 |
| Sep 20, 2026 | 8 |
| Sep 21, 2026 | 4.08 |
| Sep 22, 2026 | 24.76 |
Read from our own stored series, not quoted from a page.