Advanced9 min read
On-Chain Metrics for Beginners
Learn the few on-chain metrics that matter most and how to avoid overfitting noisy data.
on-chainactive addressesexchange flows
Core metrics
- Active addresses and transaction count as rough activity proxies.
- Exchange inflow/outflow trends for supply pressure context.
- Long-term holder behavior for cycle context.
Interpretation
- Use on-chain data with price, liquidity, and macro context.
- Single-metric narratives are usually fragile.
Avoid common errors
- Do not cherry-pick windows that support a bias.
- Account for structural market changes across cycles.