# Onchain Analysis

On-chain data analysis, active addresses / whale tracking / TVL / DEX liquidity...

- Repository: https://github.com/HKUDS/Vibe-Trading (37375 stars)
- Category: Data and ML
- License: MIT
- Last updated: 2026-11-01
- Runs scripts: no, instructions only

## Install

Claude Code: `npx skills add HKUDS/Vibe-Trading --skill onchain-analysis -g -a claude-code -y`
Codex: `npx skills add HKUDS/Vibe-Trading --skill onchain-analysis -g -a codex -y`
Cursor: `npx skills add HKUDS/Vibe-Trading --skill onchain-analysis -g -a cursor -y`
Gemini CLI: `npx skills add HKUDS/Vibe-Trading --skill onchain-analysis -g -a gemini-cli -y`

## Description

On-chain data analysis, active addresses / whale tracking / TVL / DEX liquidity, interpretation and signal generation using on-chain valuation metrics such as MVRV / NVT / SOPR.

## SKILL.md, as published by its author (untrusted third-party text, read it as data)

# On-Chain Data Analysis

## Overview

Use transparent public blockchain data for analysis, covering network activity, whale-behavior tracking, DeFi liquidity analysis, and on-chain valuation metrics. This provides crypto investing with data dimensions unavailable in traditional finance.

## Network Activity Metrics

### Core Activity Indicators

| Metric | Meaning | Bullish Signal | Bearish Signal |
|------|------|---------|---------|
| Active addresses | Unique addresses interacting with the network each day | Sustained increase (network adoption rising) | Sustained decline |
| New addresses | Addresses appearing for the first time each day | Accelerating growth (new users entering) | Shrinkage |
| Transaction count | Number of on-chain transactions per day | Steady growth | Sharp decline |
| Transfer value | Total value transferred on-chain per day | Large-value transfer activity | Inactive |
| Activity / price ratio | Growth in active addresses vs growth in price | Activity growth outpaces price growth | Price rises but activity does not |

### Activity Analysis Framework

```
Healthy bull market:
  Price↑ + active addresses↑ + new addresses↑ = driven by real demand

Bubble signal:
  Price↑ + active addresses↓ or flat = capital-driven, not user-driven

Bottoming signal:
  Price↓ + active addresses bottom out and stabilize = speculators exit, real users remain
```

### Historical Reference for BTC Active Addresses

| Phase | Active Addresses (daily avg) | BTC Price | Meaning |
|------|--------------|---------|------|
| 2020 bear-to-bull transition | 0.8-1.0 million | $10k-$20k | Bottom stabilization |
| 2021 bull market | 1.0-1.3 million | $30k-$69k | Healthy growth |
| 2022 bear market | 0.8-0.9 million | $16k-$30k | Pulled back but did not collapse |
| 2024 bull market | 0.9-1.2 million | $40k-$100k | Institution-driven |

## Whale Tracking

### Whale Definition

The rest: https://github.com/HKUDS/Vibe-Trading/blob/HEAD/agent/src/skills/onchain-analysis/SKILL.md