• The NVT ratio exited bearish territory after a long time.
  • The transaction count moved in tandem with the price rise.

The world’s largest digital asset Bitcoin [BTC] rose back above $37,000 in the last 24 hours, sustaining the interest of bullish market participants.

The rally has resulted in a 32% spike in Bitcoin’s market cap over the last month, AMBCrypto found out after examining CoinMarketCap’s data.

Source: CoinMarketCap

As Bitcoin gained momentum, one of its crucial growth potential metrics revealed a healthy picture.

Network activity matches market cap growth

The asset’s Network Value-to-Transaction (NVT) ratio significantly improved over the last month, according to an X post by on-chain analytics firm Santiment. In fact, the ratio exited bearish territory after spending the majority of 2o23 in it.

The recovery was made possible due to a sharp uptick in network activity in October.

Source: Santiment

The NVT ratio de

Go to Source to See Full Article
Author: Aniket Verma

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