Glossary
Plain-English definitions for the on-chain terms we use across the dashboard, alerts, and reports.
63 terms across 8 categories
Concepts (20)
- Address LabelA human-readable name attached to an on-chain address
- Block HeightHow many blocks have been mined since the very first one (genesis)
- Change AddressAn address that receives the "change" from a Bitcoin transaction
- ClusterA group of addresses controlled by the same operator
- Coinbase TransactionFirst TX in every block — pays the block reward to the miner
- Common-Input HeuristicRule of thumb: addresses signing the same TX are likely same owner
- CSVComma-Separated Values — a plain-text spreadsheet, opens in Excel or pandas
- Dormant WalletAn address with no outgoing TX for many years — "sleeping coins"
- electrsOpen-source index of every Bitcoin address — powers our address lookup
- Entity LabelThe organisation behind a cluster (exchange, custodian, miner, etc.)
- FINMASwiss financial regulator — what we DON'T need a license from (information-only)
- HMACCryptographic seal on a URL or message — proves it's authentic and unmodified
- MempoolWhere unconfirmed transactions wait before being added to a block
- MultisigAn address requiring multiple signatures to spend (e.g. 2-of-3 keys)
- OAuthWeb-standard for "Sign in with X" — no password sharing, no API-key copying
- On-ChainAnything recorded directly on the Bitcoin blockchain (the public ledger)
- Rate LimitHow many requests you can make per day or minute before you're throttled
- scriptPubKeyThe "lock" on a UTXO — defines how it can be spent
- StablecoinA crypto pegged 1:1 to a fiat currency (mostly USD). Largest: USDT, USDC.
- UTXOAn "unspent coin piece" — Bitcoin balance is the sum of all UTXOs
Metrics (10)
- Exchange ReservesHow much BTC each exchange currently holds (rolling 30/90/365d)
- Fee RateCost paid per virtual byte to confirm a transaction (sat/vB)
- HODL WavesHow long whales have held their coins, grouped by age band
- Miner BalanceHow much BTC each mining pool currently holds in its known wallets
- MVRVMarket value vs cost basis — how much an address is up (or down)
- SOPRSpent-Output Profit Ratio — were sold coins in profit or loss?
- Spike ScoreHow often this address's moves coincided with sharp price action
- Volume IndexHow active this address is vs. peer whales (0–10 scale)
- Volume Index CalibratedCalibrated 0–1 score with status (excluded/queued/active/de-ranked)
- Whale ScoreHow impactful this address typically is when it moves (0–10)
Trading & Pricing (9)
- 24h Post-ImpactBTC price change in the 24h after a whale TX (descriptive, not causal)
- AlphaReturns above a benchmark — the part not explained by just holding the market
- CompoundingReturns earning returns — gains stay in the pot and grow with the next round
- Orderbook DepthUSD value of buy/sell orders within ±1% or ±2% of mid-price (liquidity)
- Price WindowBTC price in the 4 hours before and after a TX (context snapshot)
- Realized PriceAverage BTC price paid when each coin was received (cost basis)
- SpotThe "right now" market — buy or sell BTC at today's price for immediate delivery
- TakerTrader who hits an existing orderbook offer — pays higher fee, gets instant fill
- Win RateShare of trades that closed in profit — useless without average win vs avg loss
Flow Types (6)
- Exchange-InternalBTC moving inside one exchange — hot↔cold operational sweep
- Exchange-to-ExchangeBTC moving between two exchanges — operational rebalancing, not demand
- From Exchange (Outflow)BTC moving off a trading venue (often after buying for self-custody)
- Self-SendSender = recipient — wallet rotating its own UTXOs (not a real flow)
- To Exchange (Inflow)BTC moving onto a trading venue (often before selling)
- Wallet-to-WalletBTC moving between non-exchange addresses — OTC or rebalancing
Macro Indicators (5)
- BTC DominanceBTC market cap as % of total crypto market cap
- Fear & Greed Index0–100 sentiment score from alternative.me (volatility, momentum, social, etc.)
- Funding RateWhat perpetual-futures longs/shorts pay each other every 8 hours
- Pi Cycle Top111-day MA crosses above 350-day MA × 2 — historical cycle-top marker
- Stock-to-FlowExisting supply ÷ annual new issuance — scarcity model (PlanB)
Pricing Tiers (5)
- Academic TierFree Research API (12 months) for verified .edu / .ac.* / .uni-* emails
- Intelligence (Paid)Paid premium tier (49 CHF/mo) — same features as Trial, no expiry
- Intelligence TrialFree 90-day Premium tier — full features, no credit card
- ObserverFree tier with login — same data as anonymous, plus saved settings
- Research APIProgrammatic access tier (149 CHF/mo) — for analysts, journalists, devs
Whale Categories (5)
- DolphinAn address moving 100–499 BTC — mid-tier large holder
- FishAn address moving 10–99 BTC — large retail or small-business tier
- Mega WhaleA single move of 1,000 BTC or more — the largest tier we track
- PlanktonAn address moving less than 10 BTC — retail and payment tier
- WhaleAn address moving 500–999 BTC per transaction (large-holder tier)