Aggregate Analysis Beyond Price: Glassnode Global Metrics
Glassnode Global Metrics introduce a suite of aggregated on-chain and market metrics designed to analyze the dynamic crypto market without the distortions caused by asset reclassifications. The framework offers two data types: Raw Aggregates (original units) and scaled, base-100 Indices for continuous trend analysis.
The article demonstrates the power of these indices through three examples. First, they reveal a dramatic 2024 small-cap rally invisible in raw data, where "winner" assets leaving the basket bias the raw series. Second, they provide a clearer view of profit-taking sentiment across market-cap cohorts, showing that small-cap holder sentiment is more stable than raw SOPR data suggests. Third, they isolate leverage behavior in derivatives, highlighting the higher volatility of open interest in mid- and small-cap assets during speculative phases.
Currently live metrics include Total Market Cap, Median SOPR, Total Open Interest, and others, calculated for All Coins, Large, Mid, and Small Cap baskets with weekly rebalancing. The data is accessible via dedicated API endpoints for both raw and indexed series, bringing the continuity of traditional finance indices to multi-asset crypto analytics.
insights.glassnode06/03 13:48
