What is the Marketcap to Thermocap Ratio:The Marketcap to Thermocap Ratio is calculated by dividing the Marketcap by the Thermocap.What does it show:The Thermocap calculates the networks total outflows to miners which is the total of all miners salaries in USD. This can be seen as measuring the earnings of the blockchain. Now, when we compare that to the total Marketcap, we essentially have an on-chain equivalent of something like a price to earnings ratio from traditional equity markets.How can it be used:If the Marketcap to Thermocap Ratio becomes comparatively high, it is a sign that Bitcoin might be overvalued. Historically the Metric shows sharp peaks for market cycle or mid cycle tops.