You hear about on chain analysis of coins and tokens. It helps determine market direction of price. This is all part of the blockchain whatever coin/token it is. Here are some metrics you can use from this document:
https://kraken.docsend.com/view/z7pn3uzfxhkn9j72
Here are the metrics you could use:
Velocity
SOPR
MVR Z score
Check out the link above.
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