链上数据表明，以太坊MVRV比率最近显着下降

根据历史，这是对价格的意义。

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.

链上数据显示，以太坊MVRV比率最近显着下降，现在低于1分。根据历史，这是对价格的意义。

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

随着价格崩溃，以太坊MVRV比率下降到1以下，与2015年相同

随着价格崩溃，以太坊MVRV比率下降到1以下，与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.

正如市场情报平台Intotheblock所解释的那样，实现价值（MVRV）比率的市场价值是衡量市值和已实现上限之间的比率的链指标。

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.

本质上，该指标展示了投资者持有的价值如何与他们最初为获得硬币进行的投资进行比较。当MVRV比率超过1时，这意味着平均持有人可能会携带未实现的净利润。相反，当指标低于1时，这表明整体市场被淹没了。

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

上面的图表由分析公司在X（以前为Twitter）上共享，突出了以太坊MVRV比率的最新趋势。

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

可见，指示器已降低并越过1级，这种情况通常为加密货币提供有利的切入点。

“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.

该公司补充说：“在2015年熊市市场中，MVRV的最后一次持续时间低于1以下，最终导致2017年获得10倍的回报。”

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，虽然掉入该区域的指标过去已证明是对加密货币的看涨，但效果似乎并不是直接的，并且在这种情况通常持续持续时间长时间之后，硬币的时期停留在红色区域。

ETH Price Might Find Support At This Level

ETH价格可能会在此级别找到支持

ETH价格可能会在此级别找到支持

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.

在其他新闻中，同一家分析公司在另一个X帖子中指出，如何在1,843美元至1,900美元之间的加密货币中存在主要的链链支撑块。

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.

在链分析中，根据投资者上次购买的供应量的最终购买，任何支持水平的强度都是根据供应水平来衡量的。上述价格范围在供应方面尤为密集，因为其中有356万个标记是由其中的464万个地址购买的。

“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说：“这种积累表明了强大的支持，但是如果ETH滑倒以下，则投降的风险会增加，因为需求在此水平上似乎较弱。”

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.

根据Intotheblock的分析，加密货币目前正在重新测试链上支撑区，因为其价格的交易约为1,877美元。