概念词典Glossary
链上

Puell 倍数

Puell Multiple
是什么
What it is

把矿工今天的挖矿收入,跟过去一年的日均收入比一比。A gauge that compares miners' revenue today against their average daily revenue over the past year.

为什么重要
Why it matters

它能告诉你,挖矿这门生意眼下是丰年还是荒年。数字远低于 1,说明矿工现在挣的钱比过去一年的平均水平差很多,这种情形常出现在熊市底部附近、日子最难熬的那批矿工被逼到墙角的时候;数字远高于 1,说明收入暴涨,更像市场偏热、靠近顶部时的景象。说到底,它是观察「挖出新币的这群人过得怎么样」的一扇窗。It tells you whether mining is a feast or a famine compared with its own recent history. A reading far below 1 means miners are earning much less than their yearly average — something often seen near bear-market bottoms, when the weakest miners are under the most pressure. A reading far above 1 means revenue has spiked, more typical of a hot, top-side market. In short, it's a window into how the people who actually produce new coins are doing.

相关
Related
矿工经济·强制卖家Miner Economics算力带Hash Ribbons