True Market Mean Price
Average acquisition price weighted by cointime economics, excluding dormant supply. A more accurate cost basis than standard Realized Price.
What is it?
True Market Mean Price is Active Cap divided by 'active' (non-dormant) supply. It is the Cointime version of Realized Price: instead of averaging the acquisition cost of ALL coins (including those probably lost), it averages only economically active coins. The result is a reference price structurally higher than classic Realized Price, but more faithfully reflecting the 'true cost basis' of active market participants.
How to read
Plotted between Realized Price and spot price, True Market Mean Price acts as a more reliable mid-cycle support than Realized Price. Spot price above TMMP indicates active participants are at an average profit. Below, they are at a loss - a significant stress indication as it excludes the lost coin bias.
Key zones
TMMP is typically 20-40% above classic Realized Price. Price drops below TMMP are rarer and more significant than drops below Realized Price, as they indicate even active participants (not just the global average diluted by lost coins) are at a loss.
What to observe
Price → TMMP convergence in bear markets is an advanced capitulation indication specific to active participants. The TMMP / Realized Price gap measures dormant coins' impact on analysis: a growing gap means classic Realized Price is increasingly 'diluted' by lost coins.
Historical context
TMMP would have offered more precise support in 2022 than classic Realized Price: price briefly touched TMMP (~$22K) before temporarily bouncing, while Realized Price (~$20K) was only touched during the FTX capitulation. TMMP serves as a 'first warning' before Realized Price.
Expert notes
TMMP is the denominator of the AVIV Ratio, making it the most important piece of the Cointime framework for cycle analysis. For direct comparison with classic MVRV, calculate price / TMMP - you get an 'active MVRV' that is structurally more reactive and reliable for reversal readings.
Common mistakes to avoid
TMMP is not the 'true' average purchase price in the strict sense - it depends on the Cointime methodology for defining 'active' vs 'dormant,' which is a convention, not an absolute truth.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/true-market-mean/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "true-market-mean",
"timeframe": "1y"
}Required tier: pro. 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.