On-Chain Analytics
On-chain metrics: active addresses, exchange flows, NVT, MVRV, whale txs
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Guide: Understanding On-Chain Metrics
What is On-Chain Analysis?
Unlike technical analysis (charts), on-chain analysis examines data directly from the blockchain: wallet movements, exchange flows, whale activity. This data is impossible to manipulate, as it's publicly recorded on the blockchain.
NVT Ratio (Network Value to Transactions)
Works like the P/E ratio for stocks, but for crypto. Compares market cap with transaction volume. Low NVT = network heavily used vs price (undervalued). High NVT = inflated price vs real usage (overvalued).
MVRV Ratio (Market vs Realized Value)
Compares current price with the average purchase price of all holders. MVRV > 3.0: Top zone — most holders in high profit, risk of massive selling. MVRV < 1.0: Bottom zone — most holders at a loss, capitulation.
Exchange Netflow
Net outflow (negative): Investors withdrawing coins from exchanges to cold wallets — sign of accumulation and confidence. Net inflow (positive): Coins entering exchanges — preparation for selling.
Whale Transactions
Large transactions (whales) move the market. Increase in whale txs may indicate silent accumulation or preparation for big moves. Monitor the direction: to exchanges (selling) or to cold wallets (holding).
Supply in Profit
Percentage of total supply in profit at current price. >90%: Euphoria — historically precedes corrections. <50%: Maximum pain — historically marks market bottoms.
Curated on-chain data for 8 cryptocurrencies | Updated every 10min