On-Chain Analysis
Reading the blockchain's public ledger — flows, holder behavior, dormancy — as a fundamental data source no other asset class offers.
On-chain analysis studies blockchain data directly: exchange inflows/outflows, long-dormant coins awakening, holder cohorts’ cost bases, miner selling. Because the ledger is public, crypto exposes investor behavior at a resolution equities never could — metrics like realized price and supply-in-profit quantify aggregate psychology.
Classic reads: sustained exchange outflows suggest accumulation into custody; ancient coins moving often precede distribution; realized-cap metrics flag capitulation zones. Honest limits: much activity is internal exchange shuffling, labels are probabilistic, ETFs moved flows partly off-chain, and every popular signal degrades once traded. Powerful context, not oracle — start by learning to read a block explorer.