DANV (Dormancy-Adjusted Network Value)
EXCLUSIVE - Market Cap multiplied by Liveliness, stripping out dormant coin valuation. Reveals the true economic footprint of the actively transacting network.
What is it?
DANV (Dormancy-Adjusted Network Value) is simply Market Cap × Liveliness. This multiplication 'compresses' Market Cap in proportion to network activity. If only 10% of temporal activity is 'alive' (Liveliness = 0.1), DANV is 10% of Market Cap. It is an 'effective capitalisation' measure - the network's value if only active coins counted. DANV is used as a numerator in adjusted valuation ratios.
How to read
DANV is always below Market Cap. The DANV / Market Cap ratio equals Liveliness. The DANV / Realized Cap ratio offers a 'dormancy-adjusted MVRV' combining activity and valuation perspectives.
Key zones
DANV / Realized Cap > 1 indicates even dormancy-adjusted capitalisation exceeds Realized Cap - significant overheating indication. Readings < 0.5 indicate the network is deeply dormant AND undervalued.
What to observe
DANV trajectory relative to Market Cap reveals whether price rise is 'supported' by rising activity (DANV rises with MC) or 'hollow' (MC rises but DANV stagnates as the network stays dormant).
Historical context
DANV diverged significantly from Market Cap during 'pure speculative' rallies (late 2017, April 2021) where price rose without proportional on-chain activity increase. 'Healthy' rallies (2020, early 2024) showed DANV/MC convergence.
Expert notes
DANV is conceptually the opposite of Active Cap: Active Cap adjusts VALUE by dormancy, DANV adjusts CAPITALISATION by activity. Both approaches converge toward the same insight ('what is the network's true economic size?') by different paths.
Common mistakes to avoid
DANV is not a 'corrected Market Cap.' It is a hypothetical projection: 'if the network were active at X%, its effective capitalisation would be Y.' Market Cap remains the 'real' capitalisation measure for standard financial calculations.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/danv/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "danv",
"timeframe": "1y"
}Required tier: performance. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
Related metrics
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.