Terryl Dickey
September 17, 2024 11:36
Glassnode expands ERC-20 token support, adding over 500 new tokens and introducing detailed metrics to enhance on-chain analytics for the Ethereum ecosystem.
Glassnode, the leading on-chain analytics platform, has announced a significant expansion of its ERC-20 token support, adding over 500 new tokens to its analytics suite. According to Glassnode Insights, the move aims to provide deeper insights and more granular metrics across the Ethereum (ETH) ecosystem.
Strengthening leadership in on-chain analytics
Glassnode, known for its comprehensive Bitcoin (BTC) analysis, is now expanding its expertise to Ethereum. With the addition of these ERC-20 tokens, users can apply the same in-depth analysis they apply to Bitcoin to Ethereum-based assets. This release includes a variety of popular and emerging tokens, from decentralized finance (DeFi) to AI-based projects and staking trends.
Improved metric range
With expanded ERC-20 token support, Glassnode is launching a variety of indicators for these new assets. Key areas of analysis include:
- Asset Basics: Metrics such as active addresses, new addresses, market cap, price, circulating supply, smart contract supply, top 1% address supply, etc.
- Capital Flow: Insights into asset movement via transfer volume (total, median, mean), number of transfers, exchange balance, net flow, etc.
- Profit and Loss Data: Metrics such as SOPR (Surplus to Profit Ratio), MVRV (Market Value to Realized Value), and Realized P&L, sorted by wallet size, age, and holding period.
This comprehensive range of indicators allows users to analyze the Ethereum ecosystem with unprecedented depth and detail, helping with market comparisons, sector analysis, and momentum forecasting.
30 days free access
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 different strategies.
Integrated platform for comprehensive analysis
Glassnode’s recent infrastructure upgrade facilitates the integration of more assets and indicators, allowing users to perform detailed analysis on Bitcoin and Ethereum on a single platform. The upgrade aims to eliminate the need for multiple data providers and streamline the analysis process for investors.
Application Case Study: Weekly-Monthly Seller Burnout Model
In Q2 2024, Glassnode integrated a detailed analysis of popular indicators to enhance the understanding of market dynamics. A case study applying the weekly-monthly seller exhaustion model to MATIC tokens showed that the model was effective in identifying local market bottoms. Key indicators used included MVRV ratio, SOPR, and realized losses, providing complementary insights into market sentiment and investor behavior.
The Seller Burnout model has now been extended to the ERC-20 space, providing a data-driven way to identify local floors and improve trading strategies.
Future Development
Glassnode continues to innovate with plans to enhance the analytics depth of the platform and expand its scope of application. Users can expect more updates and tools aimed at providing the best on-chain analytics.
For more details, check out the official announcement from Glassnode Insights.
Image source: Shutterstock