MVRV × AVIV Joint
MVRV and AVIV valuation ratios read jointly on a dual axis. Convergence confirms a consistent valuation regime; divergence flags a state where realised-value and active-value readings disagree.
What is it?
This view overlays two complementary valuation ratios: MVRV (market value vs realised value, left axis) and AVIV (active value to investor value, right axis). MVRV measures the premium/discount vs aggregate cost basis; AVIV weights by activity. Their joint reading refines the valuation regime reading.
How to read
Read the concordance of the two ratios: when MVRV and AVIV rise together, the overvaluation regime is confirmed by activity; when they diverge (high MVRV but moderate AVIV), market valuation is not fully supported by active value - a sign of fragility.
Key zones
Each ratio carries its own over/under-valuation zones. The zone of interest is divergence: a high-zone MVRV unconfirmed by AVIV marks a potentially unsupported valuation.
What to observe
Watch divergence phases between the two curves: historically, an MVRV reaching extremes without AVIV confirmation preceded corrections, while a convergence of both in the low zone accompanied accumulation phases.
Historical context
At cycle tops, MVRV and AVIV generally reached their high zones together; occasional divergences marked regime transitions. At bottoms, both ratios converged toward their lows, confirming undervaluation.
Expert notes
The dual-axis joint reading offers a view of the joint MVRV/AVIV temporal dynamic. A 2D density distribution (where the pair spends most time) would be a complementary view; here the emphasis is on evolution and divergences.
Common mistakes to avoid
The two ratios have distinct scales - compare their positions relative to their zones, not their absolute values. Convergence does not imply causality; both derive from the same on-chain base and therefore share a common trend.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/histogram-mvrv-aviv/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "histogram-mvrv-aviv",
"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.