The Cointime MVRV Ratio can be computed from Cointime Price as a reflection of the aggregate unrealized profit/loss multiple held by the market. This MVRV variant has similar properties to the classic MVRV Ratio, although with the added advantage of accounting for both cointime- and volume- weighted market behavior.
Cointime MVRV = Spot Price / Cointime Price
This metric was developed within the Cointime Economics framework for Bitcoin. This project was a joint venture between Glassnode and ARK Invest, with full details available in two formats: an overview primer (Version I published via ARK) and a comprehensive guide for specialists (Version II published via Glassnode).