Terrill Dicki
Sep 17, 2024 11:36
Glassnode expands its ERC-20 token support, adding over 500 new tokens and introducing granular metrics for enhanced on-chain analysis of the Ethereum ecosystem.
Leading on-chain analytics platform Glassnode has announced a significant expansion of its ERC-20 token support, adding over 500 new tokens to its analytics suite. This move aims to provide deeper insights and more granular metrics across the Ethereum (ETH) ecosystem, according to Glassnode Insights.
Solidifying Leadership in On-Chain Analytics
Glassnode, known for its comprehensive Bitcoin (BTC) analytics, is now extending its expertise to Ethereum. The addition of these ERC-20 tokens enables users to apply the same depth of analysis to Ethereum-based assets as they do to Bitcoin. This release includes a wide range of popular and emerging tokens, covering sectors from decentralized finance (DeFi) to AI-driven projects and staking trends.
Enhanced Metric Coverage
With the expanded ERC-20 token support, Glassnode is rolling out a variety of metrics for these new assets. Key areas of analysis include:
- Asset Fundamentals: Metrics such as Active Addresses, New Addresses, Market Cap, Price, Circulating Supply, Supply in Smart Contracts, and Supply of Top 1% Addresses.
- Capital Flows: Insights into asset movements with Transfer Volume (Total, Median, Mean), Transfer Count, Exchange Balances, Netflows, and more.
- Profit and Loss Data: Metrics like SOPR (Spent Output Profit Ratio), MVRV (Market Value to Realized Value), and Realized Profit and Loss, broken down by wallet size, age, and holding period.
This comprehensive metric coverage allows users to analyze the Ethereum ecosystem with unprecedented depth and detail, aiding in market comparisons, sector analysis, and momentum predictions.
Free Access for 30 Days
To celebrate this expansion, Glassnode is offering free access to all ERC-20-based token metrics for the first 30 days. This limited-time offer allows users to explore the full potential of the new metrics and test various strategies.
Unified Platform for Comprehensive Analysis
Glassnode’s recent infrastructure upgrade facilitates the integration of more assets and metrics, enabling users to perform detailed analyses of both Bitcoin and Ethereum from a single platform. This upgrade aims to eliminate the need for multiple data providers, streamlining the analytical process for investors.
Application Case Study: Weekly-Monthly Seller Exhaustion Model
In Q2 2024, Glassnode incorporated detailed breakdowns of popular metrics to enhance market dynamics understanding. A case study applying the Weekly-Monthly Seller Exhaustion model to the MATIC token demonstrated the model’s efficacy in identifying local market bottoms. Key metrics used included MVRV Ratio, SOPR, and Realized Loss, offering complementary insights into market sentiment and investor behavior.
The Seller Exhaustion model has now been extended to the ERC-20 universe, providing a data-driven method for identifying local bottoms and enhancing trading strategies.
Future Developments
Glassnode continues to innovate, with plans to broaden coverage and enhance the analytical depth of its platform. Users can expect more updates and tools aimed at providing the best possible on-chain analysis.
For more information, visit the official announcement on Glassnode Insights.
Image source: Shutterstock
