Retail investors are busy chasing gains and cutting losses, eyes glued to candlestick charts. Little do they know, the smart money has long switched to a different strategy.

Price fluctuations are rapid, but the movements of whales and institutional chips are much slower. True market signals are not found in the noisy price charts but are hidden in the quiet accumulation of wallets on the blockchain.

This is the core of on-chain data analysis—while most people are still watching minute-by-minute charts, a few have already sniffed out the market’s true pulse by tracking address behaviors, fund flows, and position changes. When the market is calm, it’s precisely when large players are most active. A wallet’s transfer, a large chip moving, a new address building positions en masse... these on-chain traces are telling stories.

Compared to real-time price fluctuations, on-chain behavioral data often better reflect the true intentions of market participants. To understand the market clearly, it’s worth turning your attention to these immutable on-chain records.