Users highly recommend Glassnode and Coinmetrics for on-chain analysis. These platforms offer both free and paid tiers, though accessing the most advanced metrics often requires an expensive professional subscription.
For broader analytics, Nansen is another highly regarded but pricey option. If you are focused on the Solana blockchain, users suggest Solscan, Solana FM, and Arkham for tracing fund sources, transaction history, and identifying relationships between wallets.
Birdeye and Step Finance are useful for parsing DeFi activity and understanding trading behavior. Regardless of the software you choose, your ability to interpret the data matters more than the tool itself, as even advanced AI struggles to query live blockchain data.
recommended tools
GlassnodeWidely used for on-chain data with free and paid tiers.
CoinmetricsProvides analysis tools alongside documentation and tutorials.
NansenA highly regarded but expensive option for on-chain analysis.
Solscan and Solana FMUseful for tracing fund sources and wallet connections on Solana.
ArkhamHelps with wallet clustering and entity identification.
Birdeye and Step FinanceParses DeFi activity to show trading behavior and profit and loss.
Recommended On-Chain Analysis Tools
Glassnode: A widely used platform for on-chain data, offering both free and paid tiers with more advanced metrics available in professional subscriptions. "Try taking a look at studio.glassnode.com."
Coinmetrics: Provides tools for on-chain analysis, including free and paid tiers, with documentation and YouTube tutorials for guidance. "Coinmetrics and Glassnode are both tools for on-chain analysis."
Nansen: An expensive but highly regarded option for on-chain analysis, often mentioned alongside Glassnode. "Nansen is a great option, expensive tho."
Specialized Tools for Specific Blockchains and Use Cases
Solscan and Solana FM: These tools are useful for tracing fund sources and connections between wallets on the Solana blockchain. "If you're trying to trace fund sources or connections between wallets, Solscan and Solana FM show transaction history and you can manually follow the flow."
Arkham: Offers Solana coverage for wallet clustering and entity identification, helping to understand relationships between wallets. "Arkham has some Solana coverage for wallet clustering and entity identification."
Birdeye and Step Finance: Useful for parsing DeFi activity and understanding trading behavior or profit/loss (PnL). "If you're trying to understand trading behavior or PnL, tools like Birdeye and Step Finance can parse DeFi activity."
Considerations for On-Chain Analysis
Cost of advanced features: Many powerful on-chain analysis tools require expensive professional tiers for full functionality. "I subscribed to glassnode advanced and realized most of the tools that I wanted to use require professional tier which is $833.33 which seems too pricey for me."
Data interpretation skills: The tool itself is less important than how one interprets the data, with Users emphasizing the need for solid analytical skills. "The tool matters less than how you interpret the data."
AI limitations: AI tools like Claude struggle with live blockchain data queries and pattern recognition across transactions, making manual work with block explorers and analytics tools essential. "The reason Claude or any AI struggles with this is that on-chain analysis requires actually querying live blockchain data, which AI doesn't have direct access to."
Are you looking for tools specific to a particular blockchain or analysis type?
Bottom line
Users highly recommend Glassnode and Coinmetrics for on-chain analysis, often noting that while powerful, these tools can be expensive for full functionality.
FAQ
Are Glassnode and Coinmetrics free to use?
They offer both free and paid tiers. One user noted that Glassnode requires a professional subscription for advanced tools, which costs around $833.33.
What is the best tool for tracing funds on Solana?
Solscan and Solana FM are recommended for tracing fund sources and manually following the flow of transaction history between wallets.
Can AI tools like Claude do on-chain analysis?
AI struggles with this because on-chain analysis requires querying live blockchain data, which AI does not have direct access to. Manual work with block explorers remains essential.
How can I track DeFi trading behavior and profit and loss?
Tools like Birdeye and Step Finance can parse DeFi activity to help you understand trading behavior and calculate profit and loss.
What is Arkham used for in crypto analysis?
Arkham offers Solana coverage for wallet clustering and entity identification. It helps you understand the relationships and connections between different wallets.
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