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Crypto & On-Chain terms
On-chain data, flows, whales and the price models of digital assets.
Decentralized exchange (DEX) A crypto trading platform that executes trades directly between users' wallets via smart contracts, without a central custodian. Gas fees The transaction fees paid to a blockchain network to process and validate an operation, priced by network demand. MVRV ratio (market value to realized value) A crypto valuation metric comparing an asset's current market value to the value at which coins last moved on-chain. On-chain analytics Analyzing transaction and wallet data recorded directly on a public blockchain to study crypto asset activity. Stablecoin A cryptocurrency designed to hold a steady value, usually pegged one-to-one to a fiat currency such as the US dollar. Total value locked (TVL) The total value of crypto assets currently deposited in a decentralized finance protocol. Wallet clustering Grouping blockchain addresses believed to be controlled by the same person or entity, using transaction pattern heuristics.