🔥 Hard-core knowledge in the blockchain industry: on-chain data
On-chain data only records publicly occurring transfers; internal exchange trades and off-chain transactions will not appear in on-chain records.
When you see breaking news like “whale activity,” first check who the address belongs to and where the coins ultimately flow, and don’t just place orders based on the headline.
All transfers of $BTC are publicly recorded on the blockchain, and anyone can query them using a block explorer.
Have you ever run into any pitfalls in this area? Share them so everyone can avoid detours.
On-chain data only records publicly occurring transfers; internal exchange trades and off-chain transactions will not appear in on-chain records.
When you see breaking news like “whale activity,” first check who the address belongs to and where the coins ultimately flow, and don’t just place orders based on the headline.
All transfers of $BTC are publicly recorded on the blockchain, and anyone can query them using a block explorer.
Have you ever run into any pitfalls in this area? Share them so everyone can avoid detours.