Onchain Data

Definition ∞ Onchain data refers to all information permanently recorded and publicly accessible on a blockchain ledger. This includes transaction details, smart contract interactions, and wallet addresses. This data is immutable and transparent, providing a verifiable history of all network activities. Analysts frequently use onchain data to assess market sentiment and network health. It forms the verifiable foundation of decentralized systems.
Context ∞ The analysis of onchain data is a rapidly growing field within the cryptocurrency industry, offering unique insights into market dynamics and user behavior. Researchers and traders continuously develop new metrics and tools to interpret this public information. News reports often reference trends derived from onchain data to explain price movements or predict future market activity.