Glassnode Explained: How On-Chain Analytics Track Bitcoin…
By Damilola Esebame
AI summary of the source article
On-chain analytics platform Glassnode expanded its toolset with higher-resolution exchange flows, institutional balance tracking, and derivatives analytics. By mid-2026, Bitcoin balances held on exchanges declined to approximately three million coins.
Why it matters
Wallet-size granularity matters because "large holders and small holders often act in opposite directions at cycle inflection points, and aggregate SOPR can mask the divergence."
Key facts
- Glassnode expanded into derivatives analytics in late 2025, adding options volume breakdowns for Bitcoin, Ethereum, Solana, XRP, and PAXG.
- The platform introduced balance tracking for institutional holders in May 2025, including Tesla, PayPal, Cash App, and the United Kingdom government.
- Bitcoin reserves held on exchanges dropped to approximately three million coins by mid-2026.
Source excerpt · FinanceFeeds
KEY TAKEAWAYS Glassnode provides over 800 Bitcoin metrics, including entity-adjusted MVRV, SOPR, and NUPL to help analysts assess holder behavior, market valuation, and profit and loss conditions. Exchange flow tracking measures Bitcoin moving to and from trading platforms, serving as a real-time gauge of whether holders are accumulating or preparing sales. HODL Waves segment the total Bitcoin sup…