Glassnode

Glassnode is one of the most established on-chain analytics platforms in digital assets. Founded in 2018 and headquartered in Zug, Switzerland, it aggregates blockchain activity data, spot and derivatives market data, and macro indicators into a unified intelligence layer. The platform serves analysts, traders, and institutional investors through its Studio dashboard, Research service, Bitcoin Vector signal product, and a developer API with over 1,700 endpoints. After years centered on Bitcoin and Ethereum, Glassnode made deliberate moves in 2025 to build out Solana coverage releasing supply, profit/loss, and investor behavior metrics for SOL alongside its existing depth on other major chains.

What Glassnode Does

Glassnode's core thesis is that blockchain ledgers are public by design, and that systematic analysis of their activity reveals information about market structure that price charts alone cannot. The platform translates raw on-chain data into structured metrics organized around supply dynamics, holder cohorts, exchange flows, realized profit/loss, and capital inflows.

Where many analytics tools stop at on-chain data, Glassnode extends the picture. Its unified data layer also ingests spot exchange order books, perpetual and options derivatives data from major venues, CME futures, ETF flows, and macroeconomic indicators. The combination lets analysts examine whether exchange outflows are coinciding with options market positioning or ETF accumulation.

Products and Tools

Glassnode Studio is the primary user interface a dashboard environment for browsing timeseries metrics, building custom charts, setting alerts, and accessing API keys. The free Standard tier provides access to core metrics at 24-hour resolution. The Advanced tier raises resolution to one hour and unlocks derivatives data going back one year. The Professional tier is geared toward institutional users and covers 1,000+ assets, 800+ metrics at one-minute resolution, entity-adjusted data, up to 500 simultaneous alerts, and export integrations.

Glassnode Insights also branded as Research provides analyst-written reports and data-driven commentary. This service targets professional investors who want curated market intelligence rather than raw metric access.

Bitcoin Vector is a daily signal product that condenses Glassnode's on-chain regime analysis into a Risk On / Risk Off indicator for Bitcoin. It is designed for systematic traders who want a single, interpretable output.

Data delivery is flexible by design. Analysts can access data through the Studio web interface, pull metrics via the REST API with 1,700+ endpoints, receive bulk exports in Parquet or CSV format, connect through Snowflake and BigQuery integrations, use an Excel add-in for spreadsheet workflows, or connect through a Model Context Protocol server that allows AI tools and language model interfaces to query Glassnode data directly.

Recent Platform Developments (2025-2026)

Glassnode has been actively expanding its metric library and data infrastructure. Key additions include perpetual futures order book metrics derived from full-depth Level 2 order book data for Binance BTC and ETH perpetuals at 10-minute, 1-hour, and 24-hour resolutions enabling analysis of liquidity depth and order flow dynamics. A Supply By Investor Behavior metric breaks token supply into categories by behavioral archetype including first-time buyers, conviction holders, momentum chasers, profit takers, and loss sellers. Treasury metrics track digital asset holdings by public companies and sovereign entities across BTC, ETH, BNB, and DOGE. The Glassnode MCP server brings 900+ metrics and 1,700+ asset coverage into AI-native workflows.

Solana Coverage

Historically a Bitcoin-and-Ethereum-first platform, Glassnode expanded materially into Solana during 2025. New releases for SOL include supply metrics covering circulation, holder distribution, and liquidity; Spent Output Price Distribution metrics that map where supply last moved and at what price; profit and loss metrics including realized gains, unrealized losses, and short-term and long-term holder breakdowns; and an Ecosystem Momentum Index for SOL accessible via the Studio charting interface.

These additions allow the same analytical frameworks applied to Bitcoin including cohort analysis, realized price, and MVRV ratios to be applied to Solana's on-chain activity. Glassnode has also published multi-chain analyses in 2026 examining exchange flows and institutional market structure across BTC, ETH, and SOL in parallel.

Team

Glassnode was co-founded in 2018 by Jan Happel as CEO, Yann Allemann, and Rafael Schultze Kraft as CTO. Happel and Allemann are publicly active crypto analysts who share market commentary under the X handle Negentropic. The company is incorporated in Zug, Switzerland, a canton that has become a hub for blockchain-native companies.

Tokens and Audits

Glassnode is a data and analytics company, not a DeFi protocol. It issues no token and has no on-chain smart contract infrastructure requiring security audits. Revenue is subscription-based, and the company operates as a traditional SaaS business in the data intelligence market.

Competitive Context

On-chain analytics is a competitive field that includes platforms such as Nansen, Dune Analytics, Token Terminal, and Santiment. Glassnode's differentiators are its metric depth on Bitcoin where it has built a 15-year historical dataset, its entity-adjusted analytics that normalize for the many-address nature of large participants, its derivatives data integration, and its institutional delivery options via Snowflake, BigQuery, and direct API. For Solana specifically, the platform is a relative newcomer compared to Solana-native analytics providers, but its established analytical frameworks and multi-chain comparability are increasingly relevant as institutional interest in SOL grows.

Why It Matters for Solana

As Solana matures as an institutional-grade network, the demand for the same kind of rigorous on-chain analysis that Bitcoin and Ethereum markets have long relied on grows with it. Glassnode's decision to systematically expand SOL metric coverage in 2025 reflects that recognition. For Solana Compass readers, Glassnode represents a research tool and data source that increasingly covers the SOL ecosystem with the same analytical depth it brought to Bitcoin.