CryptoQuant User Guide
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  • CryptoQuant数据使用指南
  • 为何市场主体很重要?
  • 15大预置图表⭐
  • Quick Start
    • 巨鲸抛售
    • 矿工售币
    • 巨鲸囤币
    • 大额场外交易
    • 买卖压力
    • 市场趋势
    • 市场情绪
  • Market Indicators
    • MVRV比率
    • 预估杠杆率
    • 稳定币供给比率
  • Network Indicators
    • NVT比率
    • NVT黄金交叉
    • 普尔倍数
    • 存量产量比
    • 存量产量比的回归
    • NVM比率
  • Flow Indicators
    • 交易所巨鲸比率
    • 资金流动比率
    • 稳定币比率
    • 矿工持仓指数
  • Market Data
    • 未平仓量
    • 资金费率
    • 接受者买卖成交量/比率
    • 市值模型
  • Fund data
    • 灰度比特币信托(GBTC)
      • GBTC数字资产持仓
      • GBTC溢价或折扣
  • 灰度以太坊信托(ETHE)
    • ETHE数字资产持仓
    • ETHE溢价或折扣
  • Exchange Flows
    • 交易所储备
    • 交易所流入/流出与净流入
    • 交易所地址数量
    • 交易所交易笔数
  • Stablecoin Exchange Flows
    • 稳定币交易所储备
    • 稳定币交易所流入/流出与净流入
    • 稳定币交易所地址数量
    • 交易所稳定币交易笔数
  • Miner Flows
    • 矿工流出量
  • Inter Entity Flow
    • 交易所间转账总额
    • 矿工向交易所转账总额
  • stablecoin network data
    • Stablecoin Network Data
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  • Definition
  • Interpretation
  • Use Case
  • RSI based market spotting
  • Link to Our Data

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  1. Network Indicators

NVM比率

网络价值对梅特卡夫比率(NVM比率)是指指定窗口期内市值的对数与日活地址数量平方的对数的比率。

Previous存量产量比的回归Next交易所巨鲸比率

Last updated 4 years ago

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Definition

Network Value to Metcalfe Ratio (NVM Ratio) is defined as the ratio of the log of market capitalization divided by the log of the square of daily active addresses in the specified window.

NVM Ratio=ln⁡(Market Cap)ln⁡(Daily Active Addresses2)\text{NVM Ratio} = \frac{\ln (\text{Market Cap})}{\ln (\text{Daily Active Addresses}^2)}NVM Ratio=ln(Daily Active Addresses2)ln(Market Cap)​

Interpretation

NVM Ratio evaluates the fair value of the blockchain network by applying where the law claims that the value of the network is proportional to the square of the number of active users. If the value is too high, the indicator indicates that the network is too overvalued by the interpretation where the price is too high compared to the low number of active addresses. On the other hand, if the value is too low, it means the network is too undervalued.

Use Case

RSI based market spotting

is one of the famous technical indicators measuring the relative strength of an upward trend and downward trend. We apply RSI to NVM for spotting the market's local tops and bottoms by thresholding. As you can see in the figure below, RSI of NVM quite correctly spots local tops and bottoms in a robust way.

The settings for this analysis are the followings:

  • We use a 7-day window for NVM for smoothing.

  • We use a 14-day window for RSI formulation.

  • We use 70% and 30% thresholds for the upper and lower thresholding.

Link to Our Data

NVM in CryptoQuant Live Chart
NVM in CryptoQuant Data API Docs
Metcalfe's Law
Relative Strength Index (RSI)