Masterclass #3: Realised Cap and MVRV Foundations

The Realised Cap and MVRV Ratio are arguably the most important and foundational metrics in onchain analysis. They are simple but essential tools for HODLers looking to navigate Bitcoin market cycles.

"An investment in knowledge pays the best interest." - Benjamin Franklin

If you spend enough time around checkonchain channels, you will eventually hear us banging on about how much we love the Realised Cap. Not only was it the first breakthrough onchain metric back in 2018, it was also the subject of what was probably the world’s first onchain educational video on the internet (by yours truly).

The main reason we love this metric so much is that it forms the backbone which supports so many of the incredible insights we can draw from onchain data.

This article is the first in the checkonchain Masterclass series, where we will break down the most important onchain concepts, metrics and tools for our subscribers.