{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u9322\u741b","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/chinshun","title":"\u300a\u8a08\u91cf\u5206\u6790\u300b\u8cb7\u5e63\u7684Quantamental Analysis\uff08\u4e8c\uff09 - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/593427\">\u300a\u8a08\u91cf\u5206\u6790\u300b\u8cb7\u5e63\u7684Quantamental Analysis\uff08\u4e8c\uff09<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),n=d.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),o=0;o<n.length;o++)n[o].style.display=\"none\";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute(\"style\"),\"height\"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if(\"link\"===t.message)if(a=d.createElement(\"a\"),i=d.createElement(\"a\"),a.href=r.getAttribute(\"src\"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener(\"message\",c.wp.receiveEmbedMessage,!1),d.addEventListener(\"DOMContentLoaded\",t,!1),c.addEventListener(\"load\",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf(\"MSIE 10\"),a=!!navigator.userAgent.match(\/Trident.*rv:11\\.\/),i=d.querySelectorAll(\"iframe.wp-embedded-content\"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute(\"data-secret\"))t=Math.random().toString(36).substr(2,10),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute(\"security\"),e.parentNode.replaceChild(t,e)}}}}(window,document);\n\/\/--><!]]>\n<\/script><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/593427\/embed\" width=\"600\" height=\"338\" title=\"&#8220;\u300a\u8a08\u91cf\u5206\u6790\u300b\u8cb7\u5e63\u7684Quantamental Analysis\uff08\u4e8c\uff09&#8221; &#8212; Fortune Insight\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe>","thumbnail_url":"https:\/\/prime.fortuneinsight.com\/web\/wp-content\/uploads\/2021\/10\/blockchain_entity_illustration.jpg","thumbnail_width":454,"thumbnail_height":291,"description":"\u4e0a\u6b21\u6709\u5169\u689d\u8b80\u8005\u554f\u984c\uff0c\u7b2c\u4e00\u662f\u95dc\u65bcMVRV\u3002\u5c0d\u7684\uff0cMVRV\u9ad8\u65bc1\uff0c\u4ee3\u8868overpriced\uff0cshort\u5c31\u5408\u7406\uff1b\u4f4e\u65bc1\uff0c\u4ee3\u8868underpriced\uff0clong\u5c31\u5408\u7406\u3002\u9019\u662f\u6700\u7c21\u55ae\u7684\u7b56\u7565\u908f\u8f2f\uff0c\u53ef\u7528\u6280\u8853\u6307\u6a19\u5957\u9032MVRV\u512a\u5316\u7b56\u7565\uff0c\u770b\u770b\u90a3\u7a2e\u908f\u8f2f\u6709\u5920\u9ad8\u7684Sharpe\u3002 \u7b2c\u4e8c\u689d\uff0c\u662f\u95dc\u65bcrealised value\u7684\u6982\u5ff5\u3002\u6703\u5728\u9019\u6b04\u4ecb\u7d39\u5e63\u7684macro\u6307\u6a19\u6642\uff0c\u518d\u89e3\u91cb\u6e05\u695a\u3002 \u4f86\u5230\u7b2c\u4e8c\u7bc7\u95dc\u65bcon chain data\u7684insight\uff0c\u9019\u6b21\u60f3\u8a0e\u8ad6\u5982\u4f55\u9032\u4e00\u6b65\u7406\u89e3\u4e26\u61c9\u7528\u9019\u4e9b\u6578\u64da\uff0c\u4e5f\u60f3\u89e3\u91cb\u4e0a\u6b21\u63d0\u53ca\u7b2c\u4e8c\u5c64\u6578\u64da\u7684\u57fa\u672c\u6982\u5ff5\u3002 \u7b2c\u4e8c\u5c64\u6578\u64da\u4e00\u822c\u5c0d\u5e02\u5834\u60c5\u7dd2\u6709\u555f\u793a\u3002\u8981\u91cf\u5316\u5e63\u7684\u5e02\u5834\u60c5\u7dd2\uff0c\u5c31\u8981\u56de\u5230\u6700\u57fa\u672c\u7684\u7d93\u6fdf\u5b78\uff1a\u4f9b\u6c42\uff0c\u4e5f\u5373\u8981\u7814\u7a76\u4e0d\u540c\u5e63\u7684\u5730\u5740\uff08address\uff09\u7684\u6578\u64da\u3002 \u5730\u5740\u6709\u4e09\u5927\u985e\uff1aminers\u3001exchange\u53cainvestors\u3002\u5e63\u4e00\u822c\u7531miners address\uff0cflow\u5230exchange address\uff0c\u518d\u5230\u9054investor\u7684address\u3002\u5e63\u7684\u4f9b\u61c9\uff0c\u6e90\u65bcminers\uff0c\u6240\u4ee5\u4ed6\u5011\u662f\u8ce3\u65b9\uff0c\u900f\u904eexchange\u8ce3\u5230\u6709\u9700\u6c42\u7684investors\u624b\u4e0a\u3002\u89c0\u5bdf\u9019\u4e9b\u5730\u5740\u7684\u4ea4\u6613\uff0c\u5c31\u80fd\u4f30\u7b97\/\u9810\u6e2c\u4f9b\u6c42\uff0c\u5f9e\u800c\u7092\u5e63\u50f9\u3002 \u4ee5\u6bd4\u7279\u5e63\u7232\u4f8b\uff0c\u5176UTXO\uff08unspent transaction output\uff09\u5e33\u7c3f\u5c31\u91cf\u5ea6\u4e86\u4e00\u500baddress\u4e0a\u7684\u5e63\u91cf\u53ca\u9017\u7559\u6642\u9593\uff0c\u5f9e\u800c\u8b93\u7528\u5bb6\u63a8\u7b97\u4e0d\u540c\u7684\u4f9b\u6c42\u6578\u64da\u3002 \u4ee5\u4e0b\u4ecb\u7d39\u5169\u500b\u8207\u4f9b\u6c42\u76f8\u95dc\u7684\u57fa\u672c\u9762\u6307\u6a19\uff0c\u5c07\u67d0\u4e9b\u57fa\u672c\u9762\u6307\u6a19\u7684\u983b\u7387\u63d0\u9ad8\uff0c\u5c31\u662f\u69cb\u601d\u91cf\u5316\u7b56\u7565\u7684\u8d77\u9ede\u3002 \u9996\u5148\u662frealised capitalisation\u3002\u773e\u4eba\u7686\u77e5\uff0c\u6bd4\u7279\u5e63\u7684market capitalisation = market price * total circulation\u3002\u800crealised capitalisation\uff0c\u5c31\u662f\u4e0a\u6b21\u63d0\u53ca\u7684realised value * total circulation\uff0c\u4ee3\u8868\u5e02\u503c\u5408\u7406\u503c\u3002Realised value\uff0c\u7c21\u800c\u8a00\u4e4b\u662f\u91cf\u5ea6\u4e00\u500b\u52a0\u5bc6\u8ca8\u5e63\u63db\u53d6goods and services\u7684\u50f9\u503c\uff0c\u4e5f\u5c31\u662f\u4e00\u500b\u5e63\u7684\u5408\u7406\u503c\u3002Realised capitalisation\u9023\u7e8c\u4e0b\u964d\uff0c\u4e00\u822c\u4ee3\u8868\u52a0\u5bc6\u8ca8\u5e63\u7684\u9700\u6c42\u4e0b\u8dcc\uff0c\u5728\u6b77\u53f2\u4e2d\u6307\u793a\u4e86\u718a\u5e02\u7684\u4f86\u81e8\u3002 \u7b2c\u4e8c\uff0c\u662f\u8ddf\u96a8\u9be8\u9b5a\uff08whales\uff09\u7684\u8cc7\u91d1\u6d41\u9032\u884c\u4ea4\u6613\u3002\u4e0d\u540c\u6578\u64da\u4f86\u6e90\u6709\u4e0d\u540c\u5c0d\u65bc\u9be8\u9b5a\u7684\u5b9a\u7fa9\uff0c\u4ee5Glassnode\u70ba\u4f8b\uff0c\u9be8\u9b5a\u662f\u6301\u6709\u6700\u5c111000\u7c92\u6bd4\u7279\u5e63\u7684\u7368\u7acb\u500b\u9ad4\uff08entity\uff09\u3002\u8ffd\u8e64\u500b\u9ad4\u8abf\u7bc0\uff08entity adjusted\uff09\u4ea4\u6613\u6578\u91cf\/\u984d\u5ea6\uff0c\u5c31\u53ef\u4ee5\u770b\u5230\u5927\u6236\u7684\u8cc7\u91d1\u6d41\/\u5c0d\u52a0\u5bc6\u8ca8\u5e63\u7684\u4f9b\u6c42\uff0c\u5f9e\u800c\u8ddf\u7740\u505along short\u3002 \u9019\u7bc7\u5c08\u6b04\u7684\u91cd\u9ede\uff0c\u662f\u8981\u5e36\u51faentity address\u7684\u91cd\u8981\u6027\u3002\u4e0b\u6b21\u6703\u6839\u64da\u9019\u500b\u6982\u5ff5\uff0c\u518d\u4ecb\u7d39\u5e7e\u500b\u6bd4\u8f03\u8907\u96dc\u7684\u52a0\u5bc6\u8ca8\u5e63\u6307\u6a19\uff0c\u656c\u8acb\u671f\u5f85\u3002"}