#链上数据洞察

On-chain data is a powerful tool for gaining insight into the crypto market! Taking Bitcoin as an example, at the beginning of 2025, the number of active addresses on the chain surged to 800,000, and the transaction volume also hit a monthly high, indicating that investor confidence has rebounded. Glassnode data revealed that the selling pressure from long-term holders (HODLer) has decreased, and the proportion of addresses holding coins for more than one year has reached 70%, which means that the market has entered an accumulation phase. Meanwhile, net inflows on exchanges declined, suggesting a weakening of short-term selling pressure. Hot discussions on X focused on the fluctuation of gas fees and the growth of DeFi locked-in volume, showing that the Ethereum ecosystem is still active. On-chain data not only reflects price trends, but also reveals the mentality of participants.