The sheer number of digital currencies in the market makes crypto a happening space where it has become virtually impossible to keep track of all the transactions, market trends, updates, etc., manually. To assist the community, projects such as Glassnodes come into play that provides users with detailed analytics based on various metrics.
Glassnode is a blockchain analytics firm that offers on-chain market intelligence and exchange data for retail as well as institutional crypto investors using its Glassnode Studio web app and API. Moreover, the Glassnode ecosystem also includes Glassnode Insights, which helps the company to offer market analysis and commentary.
One of the core tools inside the Glassnode Studio is Glassnode Charts that we will explore today. However, let’s first understand the working of the company and its offerings.
Diving Deep Into Glassnode
Glassnode has quickly become the industry’s leading blockchain intelligence and data platform. The project offers the most comprehensive financial metrics and library of on-chain data to provide an exact and holistic view of the crypto market using actionable and intelligible insights.
Glassnode equips investors with all the required tools to navigate the blockchain industry and help them make educated decisions in the volatile market. Several global leading investors, banks, hedge funds, asset managers, and crypto projects rely on the insights of this firm.
The Glassnode ecosystem is divided into three major parts.
Insights
Glassnode not just offers pure data provision but also empowers its users to better utilize the data. Powered by a team of world-class experts, Glassnode utilizes data to create educational content, cutting-edge crypto research, and timely market analysis to help its clients stay informed about the latest trend.
Moreover, Glassnode also offers a newsletter that goes to hundreds of thousands of crypto investors every week.
Tooling
Glassnode has developed a user-centric interface where its platform and charting suite removes all the abstract from crypto data to help users seamlessly explore, navigate and analyze the metrics using user-friendly tooling and intelligible visualizations.
Data
Glassnode offers the industry’s most comprehensive library of contextualized and intelligible on-chain and crypto financial metrics that are easily accessible using a unified API and is trusted by the top traders, researchers, and analysts. It focuses on the most liquid assets and sustainable networks such as Bitcoin and Ethereum and other respective tokens.
Charts
Charts are one of the core products offered by Glassnode and help users to explore the comprehensive suite of ever-growing on-chain and financial charts, easy to navigate, clearly organized, and intelligibly visualizes for actionable insights.
Under the Charts section, users can select the asset and different metrics they want to analyze such as Addresses, Indicators, Exchanges, Account-Based, Markets, Transactions, Supplies, Entities, Fees, UTXO, Blocks, Mining, and Distribution.
Address Category
Users can view the number of new addresses created, how many addresses are active, how many addresses are receiving or setting tokens on the blockchain, and how many addresses own fractions or the whole number of tokens.
Indicator Category
There are 41 indicators that the user can look for to understand the current position of a token such as Bitcoin in the market. Users can understand everything they need to know about the token using these indicators.
Account-Based
This is a premium feature that tells details about particular accounts and is only accessible with a paid subscription.
Exchanges Category
This category shows the flow of the token in popular cryptocurrency exchanges such as Coinbase, Binance, Kraken, etc. Users can also track the balance in the exchanges, and the amount being deposited or withdrawn.
Transactions Category
All the information about the transactions taking place with tokens can be monitored here.
Users can also check the number of transactions and the rate at which they are occurring.
Market Category
This section provides details about the current market as seen in listing platforms such as CoinMarketCap or CoinGecko.
Entities Category
All the indicators under Entities are in the premium category and show various metrics about active entities.
Supply Category
This indicator shows all the information about the supply of the token, newly minted coins, inflation rate, etc.
UTXO Category
UTXO is the unspent amount in a crypto transaction and presents information about the unspent transactions. Users can analyze percentages, volume, profit, loss, and count.
Fees Category
This indicator shows the fees paid by the users to the miners for registering the transaction on the blockchain.
Mining Category
This indicator shows insights about the mining aspect of the token such as the hash rate, difficulty rate, revenue of the miners, etc.
Block Category
This indicator shows the total number of blocks added to the network, the current block being mined, mean and median timer between the creation of blocks.
Distribution Category
The distribution category shows information only about ERC20 tokens such as the percentage of supply locked in smart contracts, the top 1% of the rich list, the distribution of ERC20 tokens, etc.
Conclusion
Glassnode has set a new industry standard on how to analyse different metrics of on-chain data. The tools offered by the company are utilized by users and companies all around the world for various purposes. These metrics are vital to understanding the growth and current trend of any digital token.