Cointime RVT Ratio
Realized Cap divided by 90-day smoothed transfer volume. The Realized Value to Transactions companion of Cointime NVT - complements network-activity valuation from a cost-basis angle.
What is it?
Cointime Realized Value to Transactions. Formula: RVT_CT = Realized Cap / MA₉₀(Transfer Volume). The numerator (Realized Cap) is the sum of UTXO values at the price of their last movement - a capitalization integrating aggregated cost basis of all current holders. The denominator is daily transfer volume smoothed on 90 days (consistent with the companion cointime NVT smoothing). The ratio measures how many Realized Cap units are mobilized per unit of transferred volume - interpreted as realized valuation relative to economic activity.
How to read
Line with historical ±σ bands. High ratio: Realized Cap disproportionate to current activity - historically consistent with intense holding regimes (little transfer, much saved realized value). Low ratio: Realized Cap proportionally low relative to volume - intense-rotation regime where realized value actively circulates.
Key zones
Above +1σ historical: marked structural holding, Realized Cap accumulates faster than volume - consistent with deep accumulation phases. Below -1σ historical: intense rotation, Realized Cap less dominant than volume - consistent with bull-rally ends. Zone [-1σ, +1σ]: normal regime.
What to observe
RVT complements cointime NVT. Observe joint configurations: high cointime NVT + high cointime RVT = high global valuation, consistent with bull-market end. Low cointime NVT + low cointime RVT = low global valuation, consistent with cycle bottom. Divergence high NVT + low RVT (rare): Cointime Cap dominates but Realized Cap stays moderate - new-entrant inflow configuration at high price without long-term consolidation.
Historical context
Cointime RVT is computable since Realized Cap and transfer volume are simultaneously available (post-2013). The metric captured extremes across successive cycles: historical RVT peaks at deep bear-market bottoms (late 2018, March 2020, November 2022) where consolidated Realized Cap dominated low volume; RVT troughs during intense rotations (2017 terminal rally, 2021 DeFi peak).
Expert notes
The denominator's 90-day smoothing is consistent with the companion cointime NVT - Trinity convention to enable homogeneous NVT/RVT reading on same temporal scales. This convention differs from raw RVT (without smoothing) adopted by some external workflows; the Trinity choice prioritizes inter-chart visual consistency over maximum sensitivity to daily peaks. The identity RVT_CT × MA₉₀(Volume) = Realized Cap provides an invariant testable by TAE audit F.
Common mistakes to avoid
A high cointime RVT does not mean overvaluation - it means Realized Cap (aggregated cost basis) is relatively high vs volume, a normal configuration at bear-market end. Do not read RVT in isolation: its interpretation requires companion cointime NVT context and cycle phase. Do not confuse RVT with the MVRV ratio (Market Value to Realized Value) which compares market cap and realized cap, not realized cap and volume.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/cointime-rvt/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "cointime-rvt",
"timeframe": "1y"
}Required tier: pro. 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.