On-chain market valuation metric
MVRV Z-Score is an on-chain metric that compares Market Value (market cap) to Realized Value (realized cap) and normalizes the difference using standard deviation.
Formula: Z-Score = (Market Cap - Realized Cap) / StdDev(Market Cap)
Z < 0: Undervalued (Buy Zone)
0 < Z < 3: Fair value range
Z > 3: Overvalued (Sell Zone)
Z > 7: Extreme overvaluation
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