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What is Puell Multiple?

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

Ratio of daily miner revenue to yearly average. <0.5 = historical buy zone, >2 = sell zone.

Related terms

Early Token DetectionExchange FlowsInstitutional TrackingMVRV Ratio (Market Value to Realized Value)NVT Ratio (Network Value to Transactions)SOPR (Spent Output Profit Ratio)
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