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Puell Multiple, Revenue

Definition

The ratio of the USD value of miner revenue during the period to the 365-day moving average of the USD value of miner revenue.
Name
MetricID
Category
Subcategory
Type
Unit
Interval
Puell Multiple, Revenue
PuellMulRev
Supply
Miner Revenue
Ratio
Dimensionless
365 days

Details

  • Computed as RevUSD/ma365(RevUSD)

Release History

  • Released in the version 4.9 of Network Data Pro

Interpretation

The Puell Multiple provides insight into market cycles from a mining revenue perspective. Because miners are sometimes considered compulsory sellers given their fixed costs (e.g., equipment, electricity), this metric provides insight into the supply side of a cryptoasset's economy. The idea being, that periods where the Puell Multiple is extremely low could be buying opportunities for investors, and periods where it is extremely high could indicate a profit-taking/selling opportunities.

See Also

Availability for Assets