On-Chain Analytics: Tracking Whale Wallets & Network Activity

• What is on-chain analysis and why is it valuable for understanding cryptocurrencies?
• What are some key issuance and supply metrics that on-chain analysis focuses on, and what do they indicate?
• What is "cointime" and how does the concept of "coinblocks" enhance on-chain analysis?
• How are metrics like MVRV and its variations used in on-chain fundamental analysis?
• How can on-chain analysis be applied to understand the flow of Bitcoin and the behavior of different network participants?

On-chain analytics utilizes the transparency of blockchains to gain insights into the cryptocurrency market by examining on-chain data. The provided text, written in April 2025, specifically explores tracking large cryptocurrency holders, known as whales, and analyzing broader network activity metrics to understand market sentiment and network health. By monitoring whale movements and key indicators like active addresses and transaction volume, analysts can develop a deeper understanding of capital flows and the fundamental strength of crypto networks, supplementing traditional analysis methods. This approach offers a unique perspective into the actual economic activity occurring on the blockchain.