2026-01-21 06:10:10

#数字资产市场动态 Many people talk about blockchain and always emphasize how transparent it is,

but we have to be honest—

In the entire Crypto ecosystem,
the only place that truly makes everything clear to you,
has always been the exchanges.

On-chain data is public,
but understanding the intentions behind on-chain activities? Not that simple.
Exchanges are different,
every transaction, every order book, every fund flow,
are all in front of you.

That’s why those who want to truly understand what the market is thinking,
always focus on exchange data first.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes

Reward
12
6
Repost
Share

Comment

0/400

AirdropJunkie

· 15m ago

That's right, looking at on-chain data seems transparent but is actually just a bunch of numbers; the real clues still come from exchange order books. --- Exchange data is the real truth; the on-chain data looks the same whether you look at it or not. --- Brilliant, that's why I check exchange K-line charts every day, I never trust on-chain data. --- Honestly, the order book on exchanges is much more valuable than on-chain data; you can see how the whales are moving at a glance. --- Haha, finally someone explains it clearly. People who don't look at exchange data are just fooling themselves. --- Exactly, only the order book can reveal true intentions; those public on-chain data are actually useless. --- That's true, but exchange data can also be manipulated, so you still need to be cautious.

View OriginalReply0

MondayYoloFridayCry

· 6h ago

Haha really, there are so many on-chain data and numbers that it makes my head hurt. The exchange candlestick charts are the most straightforward. Order books on exchanges truly reflect the market's real intentions; everything else is fake. Oh wait, why do I feel like exchange data is also being manipulated quite heavily now... Staring at the exchange charts every day, but I still end up losing money badly. LOL Exchange transparency? Then why do I always chase highs and sell lows? Feels like I'm being led around. So, understanding the order book and making money are two different things.

View OriginalReply0

LiquiditySurfer

· 6h ago

Watching the market still depends on the exchange; on-chain data, to put it plainly, is just self-deception. The exchange candlestick charts are the true pulse of the market. Don't be fooled by the words "transparency." That's right, order books don't lie, and on-chain data can be just confusing. Market trends are seen on the exchange; everything else is just armchair strategizing. That's why my first thing every day is to check the exchange; on-chain data is whatever.

View OriginalReply0

AirdropHermit

· 6h ago

Well said, on-chain data is just a bunch of codes; exchanges are the true mirror that reveals all Order books on exchanges are transparent at a glance; no matter how scammers hide, it’s useless What’s the point of on-chain transparency? It still comes down to watching where the CEX’s money flows This perspective is fresh; it’s much more honest than those claiming blockchain is highly decentralized Order books don’t lie; that’s the true heartbeat of the market

View OriginalReply0

SandwichDetector

· 6h ago

Exchange data is indeed the most straightforward, but to be honest, the tactics of those big players are also played out on the exchange.

View OriginalReply0

WalletDetective

· 6h ago

Exactly right. The rhetoric about on-chain transparency has been heard too often, but exchange data is truly the most reliable. Exchanges are the real "microscope"; everything else is just virtual. People in the know have long regarded exchange order books as a barometer of the secondary market, and there's nothing wrong with that. On-chain data is indeed public, but to say you can glean something from it? Hehe, most people simply can't understand it. Exchange data is clearly a live broadcast of market sentiment, no wonder everyone is watching it.

View OriginalReply0