On-Chain Analytics

The count of unique blockchain addresses that participate in at least one transaction within a given period, measuring network usage.

Adjusted SOPR that filters out transactions younger than one hour, removing noise from relay and consolidation transactions for cleaner on-chain profit signals.

A metric that weights transaction volume by the age of the coins moved, highlighting when long-held coins are spent — often by early holders or smart money.

The portion of a cryptocurrency's circulating supply that has not moved on-chain for a specified period, indicating long-term holder conviction.

On-chain metrics that cluster multiple addresses belonging to the same entity to avoid double-counting internal transfers.

On-chain transaction volume filtered to exclude internal transfers and change outputs, measuring genuine economic activity between distinct entities.

The total amount of a cryptocurrency held in exchange wallets, where decreasing balances suggest accumulation and increasing balances suggest distribution.

The movement of cryptocurrency into and out of exchange wallets. Net inflows suggest selling pressure; net outflows suggest accumulation.

The net difference between cryptocurrency flowing into and out of exchanges, with negative netflow indicating accumulation and positive indicating distribution.

The movement of cryptocurrency from exchange wallets to external wallets, generally indicating accumulation as holders move coins to long-term storage.

The proportion of exchange inflows attributable to the top 10 largest transactions, measuring how much of the deposit activity comes from whales.

The cost per unit of computation on a blockchain network, fluctuating based on demand for block space.

The total computational power being used to mine and process transactions on a proof-of-work blockchain, measured in hashes per second.

A visualization showing the age distribution of Bitcoin supply over time, revealing when coins are being accumulated versus distributed across different holding periods.

The breakdown of an asset's supply across wallets of different sizes, revealing concentration among whales, institutions, and retail holders.

The portion of supply held by addresses that have not moved coins for at least 155 days, representing committed holders with higher conviction.

A phase where mining becomes unprofitable and miners are forced to sell their reserves and shut down equipment, often marking bear market bottoms.

The total income earned by miners from block rewards and transaction fees, measuring the economic incentive securing the network.

An on-chain valuation ratio comparing Bitcoin's market capitalization to its realized capitalization, indicating whether the asset is overvalued or undervalued relative to holder cost basis.

A normalized version of the MVRV ratio that measures how far the current market value deviates from realized value in standard deviations.

A ratio comparing a cryptocurrency's market cap to its daily on-chain transaction volume, functioning as a P/E ratio for crypto networks.

An on-chain metric that measures the overall profit or loss of all Bitcoin holders based on when their coins last moved, used to identify market cycle phases.

An on-chain valuation metric comparing a blockchain's market cap to its daily transaction volume, analogous to the P/E ratio in traditional finance.

The study of blockchain data — transactions, wallet behavior, exchange flows, and network metrics — to derive trading insights not available in traditional market analysis.

The ratio of daily miner revenue in USD to its 365-day moving average, identifying when miners are earning above or below normal levels.

A valuation metric that prices each coin at the price it last moved on-chain rather than the current market price, measuring the aggregate cost basis.

The aggregate value of losses locked in by coins that moved on-chain at a price below their acquisition price, measuring capitulation intensity.

The average price at which all currently held Bitcoin was last transacted on-chain, representing the aggregate cost basis of the entire market.

The aggregate value of gains locked in by coins that moved on-chain at a price above their acquisition price, measuring profit-taking intensity.

A metric that weighs the confidence of long-term holders against the current price to assess risk-reward, with low values indicating favorable entry points.

The portion of supply held by addresses that acquired coins within the last 155 days, representing newer, more speculative holders.

Wallets or entities identified as consistently profitable through on-chain analysis, whose movements can signal informed trading activity.

An on-chain metric that measures the profit ratio of spent coins relative to their acquisition price, indicating whether holders are selling at a profit or loss.

A broader version of SOPR that measures the aggregate profit or loss of all spent outputs to assess overall market profitability.

The ratio of Bitcoin's market cap to the total stablecoin market cap, measuring the potential buying power available to enter crypto markets.

A scarcity model that compares the existing supply of an asset to its annual production rate, historically used to value Bitcoin relative to gold and silver.

The percentage of circulating supply held at an unrealized profit based on on-chain cost basis, measuring aggregate market sentiment.

A sudden and significant reduction in the available supply of an asset, often caused by halvings, exchange outflows, or staking lockups, driving price appreciation.

The total cumulative revenue paid to miners over a cryptocurrency's lifetime, representing the security budget invested in the network.

The total value of cryptocurrency moved on-chain during a specific period, measuring network economic activity and money velocity.

Unspent Transaction Output — the fundamental unit of accounting in Bitcoin and similar blockchains, representing coins available to be spent.

An individual or entity holding an extremely large amount of cryptocurrency, capable of significantly influencing market prices through their trading activity.

The on-chain pattern of large wallet addresses increasing their holdings, typically by purchasing during price declines or through OTC transactions.

Real-time notifications tracking large cryptocurrency transactions on-chain, used by traders to monitor institutional and whale movements.

The volume of cryptocurrency transferred from large wallet addresses to exchange deposit addresses, serving as a leading indicator of sell pressure.