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 2023 at 156.3 (January 1, 2023) and closed at 173.3 (December 31, 2023), up 10.8%. The high was 221.6 on October 11, 2023 and the low 153.1 on January 21, 2023.
| Month | Month end |
|---|---|
| January 2023 | 157.5 |
| February 2023 | 196.5 |
| March 2023 | 180.6 |
| April 2023 | 189.3 |
| May 2023 | 193.4 |
| June 2023 | 193.4 |
| July 2023 | 189.7 |
| August 2023 | 190.2 |
| September 2023 | 216.3 |
| October 2023 | 203.9 |
| November 2023 | 193.5 |
| December 2023 | 173.3 |
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 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016 · 2015 · 2014 · 2013
Also in 2023: 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 · Miner prices per terahash · Bitmain releases and the bitcoin price