鏈上數據表明，以太坊MVRV比率最近顯著下降

根據歷史，這是對價格的意義。

On-chain data shows the Ethereum MVRV Ratio has seen a notable decline recently and now falls below the 1 mark. Here’s what this could mean for the price, according to history.

鏈上數據顯示，以太坊MVRV比率最近顯著下降，現在低於1分。根據歷史，這是對價格的意義。

Ethereum MVRV Ratio Drops Below 1 As Price Crashes, Again In Same Range As 2015

隨著價格崩潰，以太坊MVRV比率下降到1以下，與2015年相同

隨著價格崩潰，以太坊MVRV比率下降到1以下，與2015年相同

As explained by the market intelligence platform IntoTheBlock, the Market Value to Realized Value (MVRV) Ratio is an on-chain indicator that measures the ratio between the market cap and realized cap.

正如市場情報平台Intotheblock所解釋的那樣，實現價值（MVRV）比率的市場價值是衡量市值和已實現上限之間的比率的鏈指標。

In essence, this indicator showcases how the value held by investors collectively compares against the investment they initially made to acquire their coins. When the MVRV Ratio exceeds 1, it implies that the average holder is likely to be carrying a net unrealized profit. Conversely, when the metric falls below 1, it suggests the overall market is submerged.

本質上，該指標展示了投資者持有的價值如何與他們最初為獲得硬幣進行的投資進行比較。當MVRV比率超過1時，這意味著平均持有人可能會攜帶未實現的淨利潤。相反，當指標低於1時，這表明整體市場被淹沒了。

The above chart, shared by the analytics firm on X (formerly Twitter), highlights the recent trend in the Ethereum MVRV Ratio.

上面的圖表由分析公司在X（以前為Twitter）上共享，突出了以太坊MVRV比率的最新趨勢。

As visible, the indicator has dropped and crossed below the 1 level, a scenario that usually presents a favorable entry point for the cryptocurrency.

可見，指示器已降低並越過1級，這種情況通常為加密貨幣提供有利的切入點。

“The last time MVRV ratios fell below 1 for sustained periods was during the 2015 bear market, eventually leading to a 10x return in 2017,” adds the firm.

該公司補充說：“在2015年熊市市場中，MVRV的最後一次持續時間低於1以下，最終導致2017年獲得10倍的回報。”

However, while the indicator dropping into this zone has proven bullish for the cryptocurrency in the past, the effect doesn’t seem to be immediate, and periods of the coin staying in the red zone after such an occurrence usually last for extended periods of time.

但是，雖然掉入該區域的指標過去已證明是對加密貨幣的看漲，但效果似乎並不是直接的，並且在這種情況通常持續持續時間長時間之後，硬幣的時期停留在紅色區域。

ETH Price Might Find Support At This Level

ETH價格可能會在此級別找到支持

ETH價格可能會在此級別找到支持

In other news, the same analytics firm has pointed out in another X post how a major on-chain support block exists for the cryptocurrency between the $1,843 and $1,900 levels.

在其他新聞中，同一家分析公司在另一個X帖子中指出，如何在1,843美元至1,900美元之間的加密貨幣中存在主要的鍊鍊支撐塊。

In on-chain analysis, the strength of any support level is measured on the basis of how much of the supply was last purchased by investors at it. The aforementioned price range is particularly dense in terms of supply, as 3.56 million tokens of the asset were bought by 4.64 million addresses inside it.

在鏈分析中，根據投資者上次購買的供應量的最終購買，任何支持水平的強度都是根據供應水平來衡量的。上述價格範圍在供應方面尤為密集，因為其中有356萬個標記是由其中的464萬個地址購買的。

“This accumulation suggests robust support, but if ETH slips below this range, the risk of capitulation grows, as demand appears notably weaker beyond this level,” says IntoTheBlock.

Intotheblock說：“這種積累表明了強大的支持，但是如果ETH滑倒以下，則投降的風險會增加，因為需求在此水平上似乎較弱。”

According to IntoTheBlock’s analysis, the on-chain support zone is currently being retested by the cryptocurrency as its price is trading around $1,877.

根據Intotheblock的分析，加密貨幣目前正在重新測試鏈上支撐區，因為其價格的交易約為1,877美元。