Last updated: 2026-01-16
Onchain Analytics Guide
How to use blockchain data to track wallet activity, measure conversions, and prove crypto marketing ROI.
What is Onchain Analytics?
Onchain analytics is the practice of analyzing data directly from blockchain networks. Unlike traditional analytics that tracks website behavior, onchain analytics tracks what happens on Ethereum, Solana, Base, and other chains.
This includes: token swaps on DEXs, NFT mints, protocol deposits, token transfers, smart contract interactions, and wallet activity patterns.
Traditional Analytics
- • Pageviews, sessions, clicks
- • Form submissions
- • Website conversions
- • User behavior on your site
Onchain Analytics
- • Token swaps, trades
- • NFT mints, transfers
- • Protocol deposits/withdrawals
- • Wallet activity across chains
Why Onchain Analytics Matters for Marketing
In crypto, the real conversions happen on-chain, not on your website. A user might click your ad, visit your site, and connect their wallet—but the actual value creation (buying your token, minting your NFT, depositing in your protocol) happens on the blockchain.
The problem: Traditional analytics tools like GA4 can't see on-chain activity. You can track clicks and signups, but you can't prove which marketing channels drove actual token purchases or protocol usage.
The solution: Onchain analytics + attribution. Connect marketing touchpoints to wallet addresses, then track those wallets' on-chain activity. Now you can prove which campaigns drive real value.
What Can You Track with Onchain Analytics?
| Data Type | Examples | Use Case |
|---|---|---|
| Token Swaps | Uniswap, Jupiter, SushiSwap trades | Track conversions for token launches |
| NFT Mints | Collection mints, free mints, paid mints | Measure NFT campaign performance |
| Protocol Deposits | Aave, Compound, Lido deposits | Track DeFi user acquisition |
| Token Transfers | Sends, receives, airdrops | Monitor distribution and adoption |
| Wallet Profiles | Age, balance, activity history | Score wallet quality, filter bots |
Onchain Attribution: Connecting Marketing to Wallets
Onchain attribution is the process of connecting off-chain marketing touchpoints (ads, clicks, social posts) to on-chain wallet activity. Here's how it works:
Create tracking links
Generate UTM-style links for each campaign with source/medium/content tags. Example: ?utm_source=twitter&utm_medium=paid&utm_content=launch_thread
Capture wallet connections
When users click your link and connect their wallet, the attribution system links that wallet address to the campaign source.
Monitor on-chain activity
The system watches those wallet addresses for conversions—swaps, mints, deposits. When activity happens, it's attributed back to the original campaign.
Calculate ROI
With spend tracking per link, calculate cost-per-wallet, cost-per-conversion, and ROI for each campaign. Prove which channels drive real value.
Onchain Analytics Tools
For Marketing Attribution
Web3 Trackers — Connect campaigns to on-chain conversions. UTM-style tracking, wallet quality scoring, per-link ROI. From $99/mo.
Start FreeFor Data Exploration
Dune Analytics — SQL-based blockchain analytics. Build custom dashboards, query raw on-chain data. Great for analysts who know SQL.
For Wallet Intelligence
Nansen, Arkham — Deep wallet profiling, smart money tracking, entity labeling. Best for research and whale watching.
Frequently Asked Questions
What is onchain analytics?
Onchain analytics is the process of analyzing data directly from blockchain networks—transactions, wallet activity, token transfers, smart contract interactions. Unlike traditional web analytics that tracks website behavior, onchain analytics tracks what actually happens on Ethereum, Solana, Base, and other chains.
How is onchain analytics different from Google Analytics?
Google Analytics tracks website behavior (pageviews, clicks, sessions). Onchain analytics tracks blockchain behavior (swaps, mints, transfers, protocol interactions). In crypto, the real conversions happen on-chain, not on your website. You need both for complete visibility.
What can I track with onchain analytics?
Token swaps (DEX trades), NFT mints, protocol deposits/withdrawals, token transfers, smart contract interactions, wallet balances, transaction history, gas usage, and more. Any data written to a public blockchain can be analyzed.
How do I connect marketing campaigns to onchain data?
Use attribution tools that link off-chain touchpoints (ads, clicks, signups) to on-chain wallets. When users connect wallets after clicking your campaign, their subsequent on-chain activity is attributed to that campaign. This is called onchain attribution.
What are the best onchain analytics tools?
For raw blockchain data: Dune Analytics, Flipside, Nansen. For marketing attribution: Web3 Trackers, Spindl, Addressable. For wallet intelligence: Arkham, Chainalysis. Choose based on your use case—data exploration vs. marketing ROI.
Is onchain data public?
Yes. Public blockchains like Ethereum and Solana have fully transparent transaction histories. Anyone can query this data. Onchain analytics tools make it easier to aggregate, filter, and visualize this data without writing complex queries.
How do I measure crypto marketing ROI with onchain analytics?
Track which campaigns drive wallet connections, then monitor those wallets for on-chain conversions (swaps, mints, deposits). Calculate cost-per-wallet, conversion rates, and ROI by comparing marketing spend to on-chain value generated.
What chains support onchain analytics?
All public blockchains support analytics since their data is transparent. Popular chains for analytics: Ethereum, Solana, Base, Polygon, Arbitrum, Optimism, BNB Chain. Most tools support multiple chains.
Ready to track on-chain conversions?
Connect your marketing campaigns to wallet activity. Prove ROI with onchain attribution.