Belin
Well-known member
Consistent accumulation trends and steady growth in active users often signal genuine adoption and network health. However, sudden spikes or drops can be misleading due to short-term speculation or external factors.
In my experience, metrics such as realized cap, long-term holder supply changes, and network value to transactions (NVT) ratio tend to provide more reliable signals for assessing fundamental strength. These indicators reflect deeper market behavior rather than momentary hype or noise. While no metric is perfect, combining multiple on-chain indicators with macroeconomic context usually produces the most trustworthy picture for long-term decision-making. Ultimately, patience and a holistic approach are key when using on-chain data as part of a broader investment thesis.
In my experience, metrics such as realized cap, long-term holder supply changes, and network value to transactions (NVT) ratio tend to provide more reliable signals for assessing fundamental strength. These indicators reflect deeper market behavior rather than momentary hype or noise. While no metric is perfect, combining multiple on-chain indicators with macroeconomic context usually produces the most trustworthy picture for long-term decision-making. Ultimately, patience and a holistic approach are key when using on-chain data as part of a broader investment thesis.