온체인 모델에 따르면 ‘공정한 가치’에 가까운 비트코인 ​​가격 거래

An on-chain pricing model for Bitcoin suggests that the cryptocurrency is currently neither overvalued nor undervalued, trading right around its “fair value.” Bitcoin Is Trading Near Its On-Chain Fair Value In a new post on X, cycle analyst Root has shared an update on how Bitcoin is looking from the perspective of the On-chain Value Map. This BTC valuation model was created by Root using three on-chain metrics: Realized Cap, Liquid Supply, and Coin Days Destroyed. Related Reading: XRP Retail Turns Fearful Again—A Classic Contrarian Setup? First, the “Realized Cap” is a capitalization model that calculates the cryptocurrency’s total value by assuming that the value of each token in circulation is equal to the spot price at which it was last transacted on the blockchain. In simple terms, what this indicator reflects is the amount of capital that the investors as a whole used to purchase the BTC supply. The second metric, the “Liquid Supply,” tra