Cointime MVRV
EXCLUSIVE - MVRV recalculated using the Cointime economic framework: Market Cap divided by Cointime Cap (active-supply weighted realized cap). Removes dormant-coin distortion for a more faithful measure of active-supply profitability.
What is it?
Cointime MVRV replaces the classic Realized Cap with Active Cap in the Market Value to Realized Value ratio calculation. Instead of dividing Market Cap by Realized Cap (which includes the acquisition cost of coins potentially lost or dormant for years), Cointime MVRV divides by Active Cap (weighted by coinblocks). The result is a 'cleaned' MVRV reflecting valuation relative only to economically active network participants. When Cointime MVRV diverges from Classic MVRV, it reveals dormant coins' influence on the reading.
How to read
Cointime MVRV oscillates around 1 like Classic MVRV but with more pronounced amplitudes since the denominator (Active Cap) is structurally smaller than Realized Cap. A Cointime MVRV > 1 means active participants are at an average profit. Overvaluation/undervaluation thresholds must be recalibrated relative to Classic MVRV (extreme zones are reached at higher levels).
Key zones
Cointime MVRV extreme zones are shifted upward compared to Classic MVRV. A Cointime MVRV > 3.5 has historically marked extreme overheating (vs > 3.0 for Classic). Drops below 1.0 are rarer and more significant as they indicate even active participants - not the diluted average - are at a loss.
What to observe
The divergence between Cointime MVRV and Classic MVRV is the primary reading. When both converge, the market is dominated by active participants. When Cointime MVRV rises faster than Classic, active coins are outperforming - bullish. When it stagnates while Classic rises, ancient dormant coins are 'waking up' and diluting the cost basis.
Historical context
Cointime MVRV would have offered slightly earlier top indications in 2017 and 2021, as old coin movements (whales taking profits) first impacted the cointime ratio before diluting into the global Classic MVRV.
Expert notes
Cointime MVRV is mathematically Market Cap / Active Cap. Since Active Cap = Realized Cap × Liveliness, Cointime MVRV = Classic MVRV / Liveliness. This simple relationship allows decomposing any divergence between the two MVRVs in terms of Liveliness change, offering a precise diagnosis.
Common mistakes to avoid
Cointime MVRV does not replace Classic MVRV - it complements it. Classic remains the standard and most studied reference. Cointime MVRV offers an additional angle, not a correction. Classic MVRV historical thresholds do not apply directly to Cointime MVRV.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/cointime-mvrv/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "cointime-mvrv",
"timeframe": "1y"
}Required tier: performance. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.