Definition ∞ An on-chain signal is any piece of data or activity recorded directly on a blockchain that provides information about network usage, asset movement, or participant behavior. Examples include transaction volumes, active addresses, smart contract interactions, and gas fees. These signals are publicly verifiable and offer insights into the fundamental health, adoption, and sentiment within a digital asset ecosystem. They represent transparent indicators of network activity.
Context ∞ On-chain signals are extensively analyzed in crypto news and by market participants to assess the underlying value and potential future performance of digital assets. Analysts use these metrics to understand investor behavior, identify trends, and evaluate the efficacy of decentralized applications. Changes in significant on-chain signals can precede price movements or indicate shifts in network utility, making their monitoring a critical component of digital asset analysis.
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