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Intermediate

On-Chain Metrics: A Skeptical Intro

Exchange flows, active addresses, and why context beats buzzwords.

4 Lessons8m total

On-chain data describes ledger activity: transfers, fees, supply on exchanges, and more. Labels are imperfect — not every wallet maps cleanly to “whales” or “retail.”

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Course Overview

Exchange flows, active addresses, and why context beats buzzwords.

What You'll Learn

Core concepts explained with market context
Practical examples tied to real instruments
Risk-aware framing — educational only
Next-step links across the VegaDeck curriculum

On-chain data describes ledger activity: transfers, fees, supply on exchanges, and more. Labels are imperfect — not every wallet maps cleanly to “whales” or “retail.”

Metrics work best as supporting evidence inside a thesis with clear falsifiers. Single-indicator dashboards rarely substitute for liquidity, funding, and macro overlays.

Timestamp your data provider, note chain reorganisation risk on fast chains, and avoid implying predictive certainty.

Educational only · not investment advice · Risk disclosures

Curriculum

7 Lessons · 56m
1On-Chain Metrics: A Skeptical IntroExchange flows, active addresses, and why context beats buzzwords.8mContinue Learning
2Altcoin Liquidity Tiers and SlippageWhy top-10 depth differs from long-tail tokens.8m
3Bitcoin Volatility Basics (No Price Targets)Realised vs implied measures and why tail risk dominates narratives.8m
4Exchange and Custody Counterparty RiskProof-of-reserves headlines vs operational reality.8m
5Spot vs Perpetual Swaps in Crypto MarketsFunding, basis, and custody risks for readers crossing over from FX.8m
6Stablecoins: Peg Mechanics and TransparencyFiat-backed, crypto-collateralised, and algorithmic designs at a high level.8m
7Wallet Security HygieneKeys, seeds, phishing, and hardware wallets at a high level.8m

Course Resources

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Educational only · not investment advice · Risk disclosures