Definition. Entity-Adjusted NVT is market cap divided by entity-adjusted on-chain volume, an entity-adjusted variant of the NVT Ratio that accounts for actual economic throughput and is therefore more accurate than the unfiltered ratio.

This is the Point-in-Time (PiT) variant of Entity-Adjusted NVT. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.