Translate'%3e%3cpath%20fill='%23ffffff'%20d='M%2087.636719%20131.8125%20L%2087.632812%20131.796875%20M%20344.1875%20153.058594%20L%20344.238281%20153.042969%20L%20344.144531%20153.042969%20L%20273.226562%20126.554688%20L%20273.1875%20126.507812%20L%20273.128906%20126.519531%20L%20224.152344%20108.226562%20L%20224.132812%20108.21875%20L%20224.113281%20108.175781%20L%20224.046875%20108.1875%20L%20187.472656%2094.527344%20L%20187.488281%2094.5%20L%20128.769531%20116.429688%20L%2087.625%20131.800781%20L%2030.746094%20153.042969%20L%20104.796875%20180.699219%20L%20107.859375%20181.84375%20L%20150.726562%20197.855469%20L%20187.488281%20211.585938%20L%20229.398438%20195.933594%20L%20267.121094%20181.84375%20L%20276.933594%20178.179688%20L%20344.167969%20153.066406%20L%20344.214844%20153.066406%20L%20344.1875%20153.058594%20'%20fill-opacity='1'%20fill-rule='nonzero'/%3e%3c/g%3e%3cpath%20fill='%23ffffff'%20d='M%20107.859375%20188.507812%20L%20107.859375%20219.835938%20L%20107.863281%20219.835938%20C%20107.863281%20219.859375%20107.859375%20219.882812%20107.859375%20219.910156%20C%20107.859375%20232.941406%20116.6875%20244.746094%20130.972656%20253.316406%20C%20145.398438%20261.976562%20165.390625%20267.34375%20187.488281%20267.34375%20C%20190.335938%20267.34375%20193.144531%20267.25%20195.914062%20267.078125%20L%20195.914062%20267.074219%20C%20217.316406%20265.738281%20236.1875%20259.347656%20249.117188%20249.945312%20C%20260.367188%20241.765625%20267.121094%20231.308594%20267.121094%20219.910156%20C%20267.121094%20219.882812%20267.117188%20219.859375%20267.117188%20219.835938%20L%20267.121094%20219.835938%20L%20267.121094%20188.507812%20L%20187.488281%20218.25%20L%20107.859375%20188.507812%20'%20fill-opacity='1'%20fill-rule='nonzero'/%3e%3cg%20clip-path='url(%236691404858)'%3e%3cpath%20fill='%23ffffff'%20d='M%2092.464844%20259.238281%20L%2092.421875%20258.8125%20L%2089.839844%20231.960938%20L%2089.726562%20230.78125%20L%2088.480469%20217.851562%20L%2089.527344%20217.851562%20L%2089.527344%20203.476562%20C%2090.964844%20202.183594%2091.875%20200.3125%2091.875%20198.222656%20C%2091.875%20197.152344%2091.636719%20196.140625%2091.210938%20195.234375%20C%2090.515625%20193.757812%2089.328125%20192.558594%2087.859375%20191.851562%20L%2087.859375%20174.375%20L%2081.617188%20172.046875%20L%2081.617188%20191.910156%20C%2079.3125%20193.078125%2077.726562%20195.460938%2077.726562%20198.222656%20C%2077.726562%20200.3125%2078.636719%20202.183594%2080.078125%20203.476562%20L%2080.078125%20217.851562%20L%2081.21875%20217.851562%20L%2080.464844%20225.59375%20L%2079.523438%20235.222656%20L%2077.203125%20258.945312%20L%2077.195312%20259.027344%20L%2075.9375%20271.894531%20L%2074.8125%20283.398438%20C%2074.785156%20283.648438%2074.78125%20283.929688%2074.8125%20284.183594%20C%2075.191406%20287.339844%2079.96875%20289.722656%2085.484375%20289.503906%20C%2091%20289.292969%2095.167969%20286.558594%2094.789062%20283.398438%20L%2092.464844%20259.238281%20'%20fill-opacity='1'%20fill-rule='nonzero'/%3e%3c/g%3e%3c/svg%3e)
← Back to GlossaryTradingLearn more in the Academy →
What is On-Chain Analysis?
On-chain analysis studies blockchain data (wallet activity, exchange flows, whale movements) to predict market trends. It's like reading the blockchain's body language.
Full Explanation
On-chain analysis examines publicly available blockchain data to understand market behavior. Key metrics: exchange inflows/outflows (coins moving to exchanges often signal selling pressure), whale wallet tracking, active addresses, MVRV ratio (market value vs. realized value), NVT ratio (network value to transactions), and HODL waves (distribution of coins by age). Tools: Glassnode, CryptoQuant, Nansen. On-chain gives insights that price charts alone can't — it shows what smart money is actually doing.
Related Terms
Last updated: 2026-03-21
