Firsthand Bitcoin · Data · Bitcoin miners
Network value to transactions: market capitalisation against the value settled on chain, on 90-day averages.
NVT ratio (90-day) opened 2021 at 114.7 (January 1, 2021) and closed at 189.8 (December 31, 2021), up 65.5%. The high was 218.0 on September 30, 2021 and the low 107.2 on January 15, 2021.
| Month | Month end |
|---|---|
| January 2021 | 112.4 |
| February 2021 | 119.4 |
| March 2021 | 138.6 |
| April 2021 | 150.3 |
| May 2021 | 149.3 |
| June 2021 | 150.4 |
| July 2021 | 157.8 |
| August 2021 | 205.4 |
| September 2021 | 218.0 |
| October 2021 | 214.6 |
| November 2021 | 202.3 |
| December 2021 | 189.8 |
Bitcoin’s price-to-earnings ratio: market capitalisation divided by the dollar value the chain settles. A high reading means the network is valued richly against its use; a low one means it is cheap. Both series are averaged over 90 days, which is how the signal is usually read.
Other years: 2026 · 2025 · 2024 · 2023 · 2022 · 2020 · 2019 · 2018 · 2017 · 2016 · 2015 · 2014 · 2013
Also in 2021: Bitcoin price · Distance from the all-time high · 200-day and 200-week averages · Network hashrate · Mining difficulty · Difficulty adjustments · Fees paid to miners · Transactions per day · Hashprice · Miner revenue · Bitmain releases and the bitcoin price · Break-even electricity price