Definition. Median MVRV is the ratio of the current market price to the median realized price, providing a view of market valuation against the midpoint acquisition cost of the supply.

Technical. Unlike the standard MVRV, which compares market cap to realized cap, Median MVRV focuses on the midpoint acquisition price rather than the average. The metric indicates 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.