[Glossary] On-Chain Analytics & Metrics Terms

CryptoKas

Below is a concise glossary of key terms you’ll encounter in On-Chain Analytics & Metrics discussions. Definitions are clear and practical—ideal for data-driven crypto research.

Fundamental On-Chain Metrics

Transaction Count: Total number of transactions processed on a blockchain during a period—measures network activity.
Active Addresses: Unique wallets that sent or received funds—higher counts indicate growing user engagement.
Gas Fees / Gas Spent: Sum of fees paid by all users—spikes often signal network congestion or popular dApps.
Block Size / Block Weight: Amount of data or transactions included per block—impacts throughput and fee pressure.

Value & Flow Metrics

Total Value Locked (TVL): Sum of assets locked in smart contracts (DeFi pools, bridges)—gauges ecosystem scale.
Exchange Inflow / Outflow: Volume of coins moving into or out of exchange addresses—rising inflows can precede sell-offs; outflows often signal accumulation.
Netflow: Difference between inflows and outflows over time—net positive may indicate bearish pressure, negative suggests bullish sentiment.
Supply on Exchanges: Percentage of a token’s circulating supply held on exchange wallets—declines often correlate with long-term holding.

Network & Holder Metrics

HODL Waves: Distribution chart of coin ages held by wallets—shows how long coins remain unmoved.
Dormant Supply: Portion of coins not moved for a long time (e.g., >1 year)—indicates “cold” holdings versus active trading supply.
Rich List / Whale Addresses: Rankings of top-holder balances—used to monitor concentration and potential market impact.
Gini Coefficient: Statistical measure of wealth distribution among addresses—higher values mean more concentration.

Valuation & Momentum Metrics

Market Cap: Current price × circulating supply—standard measure of project size.
Realized Cap: Sum of each coin’s value at the price it last moved—better reflects aggregate holder cost basis.
NVT Ratio (Network Value to Transactions): Market cap ÷ daily transaction volume—higher values can signal overvaluation relative to usage.
MVRV Ratio (Market Value to Realized Value): Market cap ÷ realized cap—values >1 indicate holders are, on average, in profit.

Advanced Indicators

Velocity: Frequency at which coins change hands (Tx count ÷ supply)—high velocity can dilute store-of-value properties.
Supply Ratio: Ratio of coins held by short-term vs. long-term holders—shifts can precede trend reversals.
Open Interest (Futures): Total outstanding derivative contracts—rising open interest alongside price can confirm trend strength.
Funding Rate: Periodic payments in perpetual swaps—positive when longs pay shorts (bullish bias), negative when shorts pay longs.

Pin this thread as your go-to reference for on-chain metrics. If you spot missing terms or need real-world examples, drop a comment below!