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Price is one of the things you can track in the crypto market.
But a lot happens on the blockchain that a price chart doesn’t show. Here are 5 on-chain metrics to help you start understanding this data 👇
Let’s start with two acronyms you’ll see a lot: MVRV and SOPR. MVRV compares market value with realized value.
SOPR helps you see whether the assets being moved are being sold at a profit or a loss.
Another one is Exchange Netflow. It calculates the balance between what flows into and out of exchanges. More inflows don’t automatically mean selling. More outflows don’t automatically mean buying.
It’s a metric that needs context.
There are also active addresses. This metric helps track network activity by looking at the addresses involved in transactions.
But there’s one important detail: one address doesn’t equal one person. The same person can control several.
And what about NVT? It compares the network’s value with transaction volume. The idea is to look at the relationship between the network’s value and the activity recorded on it.
MVRV. SOPR. Netflow. Active addresses. NVT.
You don’t need to memorize everything. And none of these metrics can predict the market on its own. The first step is understanding what each one measures.
Your name can be on X, Instagram, LinkedIn, and in countless databases. Knowing something about you doesn’t prove that someone is who they claim to be.
Inflation, interest rates, the stock market, Bitcoin, and gold moved this week.
It may seem like a lot is happening at the same time, but most of this story starts in the same place: U.S. economic data.
Friday Market, in 2 minutes👇
1/ U.S. inflation came in milder than expected. The PCE, one of the main inflation measures followed by the U.S. central bank, was 3.4%, with core at 3.0%.
And why does this matter for people who track the market?
2/ Because inflation and interest rates are directly linked. With milder inflation and weaker employment generation data, the market scaled back expectations for another interest rate hike as early as October.
The decision, of course, remains in the hands of the U.S. central bank.
3/ The U.S. stock market felt this shift in expectations. The S&P 500 regained some momentum at the end of the week and closed near 7,666 points.
It’s a good example of how an economic data point can quickly change investors’ outlook for different assets.
4/ In crypto, Bitcoin started October in the green. ₿ It rose about 2% to 3% over the week and ended the third quarter up nearly 42%, its best quarter since 2024.
One important detail: year-to-date, BTC is still down.
5/ Meanwhile, gold went the other way. 🥇 After months of gains, the metal fell during the week and was near US$ 4.180 per ounce.
Gold is often sought as a reserve in times of higher uncertainty, so it’s worth watching how it reacts when expectations change.
6/ In the end, tracking the market is a bit like putting together a jigsaw puzzle.
Inflation shapes interest-rate expectations. Interest rates feed into decisions about stocks, crypto, and other assets. And each market reacts differently.
Price shows the move. Context helps explain where it came from.
Risk notice: the prices of digital assets can be volatile and you may not get back the value you invested. This content is for educational and informational purposes only and does not constitute investment advice or financial guidance.