On-chain analysis involves studying data recorded on the blockchain, including:
Number of transactions: Assessing the activity and usage level of the network. Number of active wallets: Determining the number of active users. Amount of assets held by large wallets (whales): Monitoring the behavior of large investors that can influence the market. Data on smart contracts and tokens: Analyzing the interaction and popularity of decentralized applications (DApps) and tokens on the network. The importance of On-chain analysis
On-chain analysis provides insights into:
Market trends: Gaining a better understanding of market cycles and predicting price fluctuations. Investor behavior: Identifying buying and selling patterns of different investor groups. Network health: Evaluating the performance and security of the blockchain. Platforms providing On-chain analysis
There are several platforms that offer on-chain analysis services, including:
Glassnode: Providing detailed data and analysis on Bitcoin, Ethereum, and other cryptocurrencies. GLASSNODE.COM Nansen: Combining on-chain data with off-chain information to provide a comprehensive view of the market. NANSEN CryptoQuant: Offering on-chain metrics and analysis for various digital assets.