Decred is many things:
The Decred Treasury is the foundation for point 3, which funds a distributed collective of contractors ranging from developers to project marketers. There are a few things which make the Treasury funds unique:
This tool is a simple, high-signal way for the average person to gauge the current state of mining within…
The two linked pieces above are components of the expanding documentation on Decred’s Realized Cap, one of the most powerful on-chain tools within the cryptocurrency space. Relevant information provided within these pieces are summarized below:
For those unfamiliar with the Realized Cap, please read the linked piece above as Checkmate did a rockstar job in formalizing the power behind the Realized Cap, how Bitcoin’s differs from Decred’s, and how this manifests itself in price action for each respective coin. For those more comfortable with the abbreviated version, a summary of relevant points surrounding the Realized Cap are included below:
Decred has three groups of network stakeholders who leave consistent, on-chain footprints:
Each group’s on-chain footprint fluctuates / oscillates over time as a function of their share of block rewards earned (10%/30%/60% respectively) and financial needs (for example — selling DCR to pay bills). Crypto networks early in their lifecycles tend to have strong ties between (1) network value and (2) on-chain activity, as stakeholders are early adopters who are more comfortable transacting on-chain. Thus, their footprints tend to have higher signal when compared to larger crypto networks which have larger off-chain signatures.
The author’s previous explorations…
Decred’s on-chain data is wide-ranging and increasingly well documented. If the reader finds any issues understanding the discussion covering “The Strongest Hand Market Cap + Ratio”, it might be helpful to backtrack and digest other available pieces on relevant subject matter.
However, the abbreviated version of research and conclusions within the “Decred On-Chain” domain includes the following:
This piece aims to provide an array of charts displaying Decred on-chain data and give basic analysis on the state of the Decred network (and price’s relationship to the on-chain data).
By keeping charts and explanations simple, we can hopefully keep things digestible and easy to quickly look through. Furthermore, if there’s appetite for this type of publication again it’ll be substantially more manageable for myself (Permabull Nino) and other contributors to put it together more consistently.
Last of all — we seemed to have reached a point where the Decred On-Chain toolset is large enough that it merits discussing…
A Tool for Gauging User Sentiment
On-chain analysis is a nascent and emerging field of study within the cryptocurrency space and within the ledger analysis space at large, which includes traditional work done by internal accountants, auditors, and consultants alike.
Among these ledger data specialists reigns one overarching principle: establish / identify economic truth via thorough research, and communicate findings in a digestible manner for outside parties to engage with.
The work of internal accountants / auditors emerges at various financial reporting deadlines, and consultants shine via their various deliverables to their clients.
Cryptocurrency on-chain analysts aim to establish and…
Tracking Accumulation & Capitulation Momentum On-Chain
In previous pieces “Decred On-Chain: A Look at Block Subsidies” & “Decred On-Chain: The Ticket Pool VWAP” we laid down and explored the foundational bits of the Decred network and its relationship to (1) its block rewards and (2) its proof of stake ticketing system.
At a high level, the goal of these two pieces were to establish a baseline for more detailed / granular analysis in future research. This piece builds off these concepts and ideas, with a focus on DCR ticket data attributable to:
(1) DCR Hodlers
(2) Marginal Buyers / Sellers
In my previous piece “Decred On-Chain: A Look at Block Subsidies”, we explored the ultimate Network-Based indicator — block rewards, and their relationship to network valuation from the point of view of the network itself, miners, stakers, and the DCR treasury.
Within this article we will begin to explore and uncover the magic behind the ultimate Decred User-Based indicator — ticket data, and show how it provides a means for effectively gauging the HODL behavior of users within the Decred Network.
This article aims to be a foundational piece in understanding ticket data for future pieces, explain why it’s worthwhile…
Crypto + Accounting