As technological advancements continue to dominate the business world, including the financial function, it is only fair that finance leaders must have a good grasp of the many principles surrounding technology.
Among which are blockchain on-chain transactions.
It is important that leaders in the financial function of an organisation understand the twists and turns in this technological advancement to be able to maximise its benefits and have it handy in the company's decision-making process over time.
On-chain transactions are considered as the lifeblood of blockchain as these are like the "heartbeat" of the digital asset world.
These transactions serve as the steady rhythm that digital investors listen to, to have an idea what makes blockchain successful. This is essential in the world of cryptocurrency as it is like a compass to navigate through the ups and downs of the market.
Finance leaders must make it a habit to check on-chain transactions to understand the language of how blockchain is used and how important it is.
More on-chain transactions means that more people are using the network, and if there are fewer transactions, it could mean things are slowing down and the system is not moving much or others are taking over in the market.
When things are going really well in the market, like a big celebration, the trading volumes go way up. These include positive news, institutional adoption, regulatory clarity or significant protocol upgrades, acting as catalysts. This is a time when feelings guide the way, pushing traders to decentralised exchanges, where things like NFTs and new tokens get all the attention.
