Data from Glassnode shows Ethereum is still experiencing negative momentum despite the year-to-date rise that the asset has observed. Ethereum MVRV Ratio Has Recently Indicated Negative Momentum According to the latest weekly report from Glassnode, the MVRV ratio has recently been below its 180-day moving average (MA). The “Market Value to Realized Value (MVRV) ratio” refers to an indicator that measures the ratio between the Ethereum market cap and realized cap. The “realized cap” here is a capitalization model for ETH that assumes the true value of any coin in circulation is the price at which it was last moved on the blockchain. This is unlike the market cap, of course, which calculates the asset’s total value using the current spot price. Since the price at which each coin was last moved on the network can be assumed to be the price it was bought, the realized cap can be looked at as a sum of the total capital that the investors have used to purchase ETH. Related Reading: Solana Whales Deposit To Exchanges, Selloff In ..
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