---
title: "NVM"
method: GET
path: "/btc/network-indicator/nvm"
tags: ["BTC Network Indicator"]
---

# NVM

`GET /btc/network-indicator/nvm`

NVM(Network Value to Metcalfe Ratio) is a metric based on Metcalfe’s law; the value of a network is proportional to the square of its nodes or user. NVM is a ratio of market cap divided by daily active address. Based on Metcalfe’s law, the value of bitcoin rises if the daily active addresses increase. Therefore, if the NVM value is relatively small, it means that the value of the network is underestimated and if the value is relatively high, it means that the value of the network is overestimated.  
__[Go to Data Guide‣](https://dataguide.cryptoquant.com/network-indicators/nvm-ratio)__


**📖 Data Guide:** [NVM Ratio](/data-guide/network/nvm-ratio) — definition, interpretation, and chart examples.

## Query parameters

- `window` string
- `from` string
- `to` string
- `limit` integer
- `format` string

## Response `200`

nvm

- object
  - `status` object, required — The status object is return with most of requests and indicates if the request was successful. If it is not successful, error information is included.
    - `code` integer, required — HTTP status code
    - `message` string, required — Text description of the error or success.
  - `result` object, required
    - `window` string, required — The size of window. This metric supports only day resolution.
    - `data` object[], required
      - `date` string — The date in YYYY-DD-MM. This optional field only appears when window=day is used.
      - `nvm` number, required — NVM is a ratio of market cap divided by daily active address.

---

[API](https://skmtc.net/cryptoquant/apis/cryptoquant-data-api.md) · [All operations](https://skmtc.net/cryptoquant/apis/cryptoquant-data-api/llms.txt) · [OpenAPI document](https://skmtc-service-staging.skmtc.workers.dev/v1/apis/cryptoquant/cryptoquant-data-api/versions/81ee223d4908/schema)