Realised Price & MVRV
The average price at which the issued supply was minted, and how far spot trades above or below it.
▍How it is computed
Realised price is the issuance VWAP: cumulative Σ(daily coinbase × that day's real price) ÷ cumulative coinbase. MVRV is spot price ÷ realised price. Coinbase is consensus-exact; price is the real feed.
▍How to read it
Realised price is a cost-basis floor for freshly-minted coins. When MVRV is well above 1 the market pays far more than issuance cost; near or below 1 has marked cycle bottoms.
▍Get the data
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