Once, when evaluating a coin, you looked at candlestick charts, listened to stories, and waited for hype cycles. But now, things are different. As the crypto market becomes more professionalized, real on-chain performance is beating all short-seller promises.

To survive in this information explosion, you need a reliable filtering tool. And that tool is on-chain fundamental analysis.

Why focus on on-chain fundamentals? Simply put, it provides DeFi with the most powerful competitive weapon against traditional finance. This is not just one of the reasons DeFi wins, but also something every investor must master to establish a foothold in this field.

Over the past four years, I have been working with DeFi data—initially as a researcher, and later as part of a leading data tracking platform team. During this process, I have developed a practical analytical framework, and today I want to share some truly useful methodologies.

How impressive is on-chain data? How do traditional investors do their homework? They wait for quarterly reports from listed companies, which usually happen once every quarter. But in the crypto world, data flows in real-time, is transparent, and cannot be tampered with. Some people are even calling for changes in disclosure frequency—from quarterly reports to semi-annual reports. How big is the difference? Make your own judgment.