The Median MVRV metric represents the ratio of the current market price to the median realized price, providing a nuanced view of market valuation. Unlike the standard MVRV, which compares market cap to realized cap, the Median MVRV focuses on the midpoint acquisition cost, offering insight into how the current price relates to the median acquisition price of the supply. This metric helps indicate whether the traded price is above or below a typical acquisition price, highlighting potential undervaluation or overvaluation relative to the central price level at which the asset’s supply was acquired.

This is the Point-in-Time (PiT) variant of Median MVRV. 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.