Cardano market sentiment became increasingly bullish in November 2021, as is shown in the development of the cryptocurrency's NVT ratio. The Network Value to Transactions or NVT ratio is somewhat comparable to a P/E ratio, in that it compares the number of transactions of a particular coin on a set day against that coin's market cap. A low NVT ratio means that that transaction volume of a cryptocurrency is growing faster than the coin's market cap - meaning investor sentiment is bullish, or optimistic - whereas a high ratio refers to a network that has a relatively high network value but low network activity - meaning sentiment is bearish, or negative.
NVT ratio - market cap against the number of transactions on the blockchain - of Cardano (ADA) from January 1, 2020 to January 9, 2022
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Coin Metrics. (January 10, 2022). NVT ratio - market cap against the number of transactions on the blockchain - of Cardano (ADA) from January 1, 2020 to January 9, 2022 [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1278703/cardano-sentiment/
Coin Metrics. "NVT ratio - market cap against the number of transactions on the blockchain - of Cardano (ADA) from January 1, 2020 to January 9, 2022." Chart. January 10, 2022. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1278703/cardano-sentiment/
Coin Metrics. (2022). NVT ratio - market cap against the number of transactions on the blockchain - of Cardano (ADA) from January 1, 2020 to January 9, 2022. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1278703/cardano-sentiment/
Coin Metrics. "Nvt Ratio - Market Cap against The Number of Transactions on The Blockchain - of Cardano (Ada) from January 1, 2020 to January 9, 2022." Statista, Statista Inc., 10 Jan 2022, https://www.statista.com/statistics/1278703/cardano-sentiment/
Coin Metrics, NVT ratio - market cap against the number of transactions on the blockchain - of Cardano (ADA) from January 1, 2020 to January 9, 2022 Statista, https://www.statista.com/statistics/1278703/cardano-sentiment/ (last visited December 21, 2024)
NVT ratio - market cap against the number of transactions on the blockchain - of Cardano (ADA) from January 1, 2020 to January 9, 2022 [Graph], Coin Metrics, January 10, 2022. [Online]. Available: https://www.statista.com/statistics/1278703/cardano-sentiment/
