NVT Ratio
Awaiting trial
Registered - formula and source fixed - and awaiting either its own admission run or its cluster representative's verdict.
What it claims to measure
Economic throughput (adoption)
Definition and source
- Formula:
CapMrktCurUSD / on-chain transfer value USD - Data source:
bitcoin-data.com(confirmed) - Signal history in the matrix: 106 weeks
Observed correlations vs tested instruments
| Versus | Spearman rho | Window | Tier |
|---|---|---|---|
| nupl | +0.428 | 106 weeks | provisional / below threshold |
| mvrv-z-score | +0.402 | 106 weeks | provisional / below threshold |
| power-law | +0.381 | 106 weeks | provisional / below threshold |
Confirmed means the correlation held at |rho| ≥ 0.85 over at least four years AND in both halves of the window independently. Anything less is reported but never used to assign a verdict.
Registry notes
transfer value not in CM community tier
Challenge this status
Every status here is falsifiable. If you can demonstrate this instrument decorrelates from its assigned representative - or measures a phenomenon we have missed - it earns its own full trial, and the record publishes either way. The petition channel opens with the public repository.