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What is MVRV Ratio (Market Value to Realized Value)?

Reviewed by the ONCHAIN TRADE DOJO team · Updated March 12, 2026

Compares market cap to realized cap. >3.7 = overheated, <1 = undervalued.

Related terms

Early Token DetectionExchange FlowsInstitutional TrackingNVT Ratio (Network Value to Transactions)Puell MultipleSOPR (Spent Output Profit Ratio)
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What is MVRV Ratio (Market Value to Realized Value)? Definition & example | ONCHAIN TRADE DOJO