Transparent data that still is not self-explanatory.
| Concept | Explanation | |---|---| | Active addresses | Addresses participating during a period; not equivalent to unique users. | | Transaction value | Value transferred, which may include internal or automated activity. | | Total value locked | Assets deposited in DeFi protocols, subject to methodology and double counting. | | Exchange flows | Movement into or out of exchange-controlled addresses. | | Protocol treasury | Assets controlled for development, incentives, grants, or operations. | | Runway | Time the treasury can fund operations under assumed spending and asset values. |
On-chain data is transparent but not self-explanatory. Entity labeling, repeated addresses, bridges, custodians, and internal transfers can distort naive conclusions.