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 2022 at 189.7 (January 1, 2022) and closed at 155.6 (December 31, 2022), down 18.0%. The high was 195.6 on May 2, 2022 and the low 114.4 on July 30, 2022.
| Month | Month end |
|---|---|
| January 2022 | 185.0 |
| February 2022 | 185.7 |
| March 2022 | 182.9 |
| April 2022 | 192.0 |
| May 2022 | 162.0 |
| June 2022 | 134.8 |
| July 2022 | 114.6 |
| August 2022 | 137.2 |
| September 2022 | 172.8 |
| October 2022 | 188.3 |
| November 2022 | 154.3 |
| December 2022 | 155.6 |
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 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016 · 2015 · 2014 · 2013
Also in 2022: 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