On-Chain Data Sources - Where to Find What
Where Does On-Chain Data Come From
To perform on-chain analysis, you need to collect and process raw data recorded on the blockchain. This process is broadly divided into two stages.
Stage 1: Raw Data Collection - Obtain raw data such as transaction records, block information, and address balances by running your own blockchain node or using blockchain explorers.
Stage 2: Data Processing and Metrics - Process raw data into analyzable forms. Metrics like active address count, MVRV ratio, and HODL Waves require aggregating and calculating millions of transactions.
It's practically difficult for individuals to run their own nodes and process all the data. That's why specialized on-chain analysis platforms handle this role.
Major On-Chain Analysis Platforms
Glassnode
The platform providing the most comprehensive data in the on-chain analysis field.
| Category | Details |
|---|---|
| Key Metrics | MVRV, SOPR, NUPL, HODL Waves, Realized Price, Exchange Flows, and 200+ more |
| Supported Chains | Bitcoin and Ethereum focused, some altcoins |
| Features | Longest historical data, publishes in-depth research reports |
| Pricing | Free (limited basic metrics) / Paid ($39-$799/month) |
| URL | glassnode.com |
Glassnode publishes "The Week Onchain" and plays a major role in establishing on-chain analysis standards.
CryptoQuant
A platform founded by Ki Young Ju, with particular strengths in exchange-related data.
| Category | Details |
|---|---|
| Key Metrics | Exchange inflows/outflows, exchange reserves, funding rates, OI, miner flows, etc. |
| Supported Chains | Bitcoin, Ethereum, major altcoins |
| Features | Exchange data specialization, real-time alerts, multilingual support |
| Pricing | Free (limited) / Paid ($39-$799/month) |
| URL | cryptoquant.com |
CryptoQuant provides granular exchange-by-exchange data, making it useful for exchange flow and exchange reserves analysis.
Lookonchain
A platform specialized in tracking whale and smart money movements based on on-chain data.
| Category | Details |
|---|---|
| Key Metrics | Whale wallet tracking, fund/institutional positions, large transaction alerts |
| Supported Chains | Multi-chain (BTC, ETH, SOL, etc.) |
| Features | Social media-based real-time alerts, individual whale wallet labeling |
| Pricing | Free (social media) / Paid (detailed data) |
DefiLlama
A platform aggregating TVL (Total Value Locked) and related data for decentralized finance (DeFi) protocols.
| Category | Details |
|---|---|
| Key Metrics | Protocol TVL, chain TVL, stablecoin flows, bridge liquidity |
| Supported Chains | Almost all blockchains |
| Features | Completely free, open source, DeFi data industry standard |
| Pricing | Free |
| URL | defillama.com |
Blockchain Explorers
Blockchain explorers are tools for directly querying raw data on a specific blockchain. Use them when you need to verify specific transactions or addresses.
| Blockchain | Major Explorer | Features |
|---|---|---|
| Bitcoin | Mempool.space | Real-time mempool visualization, fee estimation, hashrate |
| Bitcoin | Blockchain.com | Oldest Bitcoin explorer |
| Ethereum | Etherscan | ETH ecosystem standard, smart contract verification |
| Solana | Solscan | SOL transactions, tokens, NFT lookup |
| XRP | XRP Ledger Explorer | XRPL transaction tracking |
By searching for a specific address in a blockchain explorer, you can view all transaction history, balance, and token holdings for that address. When a large transaction is detected in whale tracking, you can use the explorer to trace that address's behavior before and after.
On-Chain Data Available on BitInsight
The BitInsight dashboard lets you check core on-chain data in real-time without signing up for separate platforms.
BTC Network Metrics
| Metric | Data Source | Update Frequency |
|---|---|---|
| Current Hashrate (EH/s) | Mempool.space | 1 minute |
| Mining Difficulty | Mempool.space | 1 minute |
| Difficulty Adjustment Forecast (change %, remaining blocks, estimated time) | Mempool.space | 1 minute |
| Recommended Fees (fastest/30min/1hr/economy/minimum) | Mempool.space | 1 minute |
See Hashrate and Difficulty and Network Fees for more details.
Whale Transaction Tracking
| Metric | Tracked Chains | Threshold |
|---|---|---|
| Large Transaction Real-time Feed | BTC, ETH, SOL, XRP | $500,000+ |
| 24-hour Transaction Count | 4 chains | Auto-aggregated |
| Per-chain Statistics (count, volume) | 4 chains | Auto-aggregated |
| Largest Transaction | 4 chains | Largest in 24 hours |
See Whale Tracking for more details.
Market Sentiment Metrics
| Metric | Data Source | Update Frequency |
|---|---|---|
| Fear & Greed Index (0-100) | Alternative.me | 5 minutes |
| BTC Dominance | CoinGecko | 5 minutes |
| ETH Dominance | CoinGecko | 5 minutes |
| Total Market Cap / 24h Change | CoinGecko | 5 minutes |
See Fear & Greed Index for more details.
Derivatives Data
| Metric | Data Source | Update Frequency |
|---|---|---|
| Funding Rate | Binance Futures | 30 seconds |
| Open Interest (OI) | Binance Futures | 30 seconds |
| Long/Short Ratio | Binance Futures | 30 seconds |
Derivatives data is not strictly on-chain data, but is used alongside on-chain analysis to gauge market sentiment and leverage levels.
Getting Started with Free On-Chain Analysis
If you're just starting with on-chain analysis, there's no need to immediately subscribe to paid services. The following free resources are sufficient for learning and analysis.
- BitInsight Dashboard: Real-time data including hashrate, fees, whale tracking, Fear & Greed Index
- Glassnode Free Tier: Basic on-chain charts (with update frequency limitations)
- CryptoQuant Free Tier: Basic exchange-related metrics
- DefiLlama: Full DeFi data available free
- Mempool.space: Complete Bitcoin network data free
- Etherscan: Complete Ethereum data free
Important Considerations When Viewing Data
1. Numbers May Vary by Source
Even for the same metric, calculation methods or data collection scope may differ slightly between platforms. For example, exchange reserves depend on how many exchange wallets each platform has identified. It's important to pick one source as your reference and observe trends.
2. Focus on Trends Over Absolute Values
The trend over time matters more than the absolute numbers of on-chain metrics. Whether active addresses are 500,000 or 600,000 matters less than whether they're increasing or decreasing.
3. Don't Rely on Any Single Metric
No single on-chain metric provides a perfect signal on its own. They're most effective when multiple metrics are combined and used alongside technical analysis. On-Chain Market Cycle Indicators covers how to synthesize multiple metrics.
Summary
On-chain data is accessible to anyone thanks to blockchain transparency, but processing raw data into meaningful metrics requires specialized platforms. Glassnode and CryptoQuant are industry standards, and BitInsight also provides core on-chain data in real-time. Free tools alone are sufficient to learn the essentials of on-chain analysis, so we recommend directly checking the metrics introduced in each article of this series as you read along.
Next article: Active Addresses - Measuring Network Vitality