Why do we need to analyze data on-chain, what benefits does this approach bring?
On-chain data cannot be faked, so it will provide us with the most accurate and objective information going on in the market.
Because Blockchain technology is built towards transparency in information, moreover this information is difficult to change, so this can be considered the most reliable information source in the market.
Monitor real-time market behavior
On-chain data also helps us to specifically track the behavior of objects in the market. This is especially important when monitoring the activity of Whales, who possess a wealth of financial and informational resources to manipulate the crypto market.
Therefore, tracking whales On-chain and acting rationally will likely make us part of the winning minority in the market.
Help forecast and make investment decisions
In addition, data analysis also helps us to predict situations and make reasonable investment decisions.
Network activities often precede information on communication channels. So when updating the On-chain information regularly, also helps people have the ability to anticipate situations so that they can be one step ahead of the community.