Teams building DeFi protocols and crypto applications face fragmented blockchain data, wallet pseudonymity, and complex privacy trade-offs that traditional analytics tools simply can't handle.
Having a unified Web3 analytics stack isn't just helpful—it's critical for measuring growth, understanding attribution, and improving user experience. Without proper insights into both offchain marketing efforts and onchain user behavior, teams operate blindly in an increasingly competitive ecosystem.
This post breaks down the top Web3 analytics tools to help onchain builders make data-driven decisions and accelerate their growth.
What is Web3 Analytics?
Web3 analytics combines on-chain events like transactions and smart contract interactions with wallet behavior patterns and off-chain signals from marketing campaigns to create actionable insights. This process transforms raw blockchain data into meaningful business intelligence.
The key difference from Web2 analytics lies in user data control, radical transparency, and the complexity of onchain attribution. While Google Analytics tracks sessions and page views, Web3 analytics must connect anonymous wallet addresses to real user journeys spanning multiple chains and protocols.
Teams typically need to track three essential data domains:
Onchain data: Transactions, smart contract interactions, token transfers, and protocol usage
Wallet data: Wallet profiles, audience insights, cohort analysis, and linking multiple addresses to individual users
Offchain data: Marketing campaign performance (UTMs), referral traffic, and social media engagement
Key Features to Look For in Web3 Analytics Tools
When evaluating analytics platforms, onchain builders should prioritize these essential capabilities:
Event analytics captures the full user journey, from offchain to onchain
KPI dashboards provide immediate visibility into product and user metrics
Onchain attribution connects off-chain marketing efforts directly to on-chain conversions, solving the attribution puzzle that traditional tools can't handle.
Wallet intelligence segments users based on their onchain footprint, helping teams understand whale behavior, identify power users, and target specific cohorts.
Multi-chain support tracks user activity across different blockchains seamlessly, providing a unified view of cross-chain behavior.
Privacy & security ensures user data protection without invasive tracking methods like IP fingerprinting or third-party cookies.
Top Web3 Analytics Tools
1. Formo
Key Features:
Unified analytics dashboard: Track DAU, WAU, CAC, ARPU, LTV, TVL, transactions, revenue, volume, and retention
Product analytics: See what your users are doing in real-time
Onchain attribution: Connect marketing channels (referrer, UTM) to on-chain user activity and onchain metrics (TVL, revenue, volume)
Funnel analytics: Build custom funnels to measure conversion rates and and identify drop-offs at key touchpoints
Wallet intelligence: Transform anonymous wallets into user profiles with insights on net worth, apps, tokens, in-app activity, and segments
Audience segmentation: Segment and target users by wallet properties, lifecycle, and in-app actions
Retention analytics: Measure engagement, cohort retention, and long-term value
Custom charts & reporting: Create custom dashboards with the UI or raw SQL
Alerts: Real-time notifications for high-value users or critical actions
Pros:
Complete product analytics and marketing intelligence for web3 teams
Connects off-chain and on-chain data with onchain attribution and identity resolution
Highly detailed wallet profiles with real-time activity feed
Supports custom reports and visualizations using SQL and AI analytics
User-friendly interface with quick setup
Supports 40+ EVM chains
Open source SDKs
Cons:
Newer platform, ecosystem still growing
Limited support for mobile attribution
2. Spindl
Features:
Connects off-chain ad spend to on-chain outcomes
Tracks conversions from ad clicks through NFT mints, token swaps, and contract calls
Provides user LTV and retention insights
Audience segmentation based on on-chain + off-chain behaviors
Integrations and attribution bridges (e.g., AppsFlyer)
Pros:
Integrates with Base Ads for streamlined Web3 ad tracking
Measures marketing ROI by showing how ad spend translates into on-chain value
Flexible dashboards for campaign reporting and audience analysis
Cons:
Primarily built for marketing optimization, not detailed product analytics
Limited depth for user activity, feature adoption, session flows
Limited wallet intelligence
3. Cookie3
Features:
User journey tracking from off-chain interactions to on-chain actions
Community-focused analytics with token holder segmentation
On-chain explorer for analyzing Web3 communities
KOL intelligence: Scores influencers by engagement quality and bot detection
Pros:
Ideal for community engagement and influencer marketing campaigns
Measures ROI of social and creator campaigns
Provides combined off-chain + on-chain activity views
Cons:
Less useful for product feature adoption or deep funnel analytics
Limited customization of dashboards and reports
Limited audience segmentation and wallet intelligence
No real-time alerts
No API
4. Safary
Features:
Syncs Twitter (X) followers with on-chain data: discover wallet holdings and protocol usage
Combines Web3 and Web2 data for enriched user profiles
Filtering, sorting, and exporting for detailed profile analysis
Pros:
Connects social audiences to on-chain behavior
Reduces noise from bots and irrelevant accounts
Offers segmentation and export tools for actionable insights
Cons:
Optimized for social-to-on-chain attribution, not full product analytics
Limited utility for projects without strong social presence
Developer APIs are restricted, less focus on granular event tracking
Limited analytics capabilities compared to other players
Limited support for mobile attribution
5. Addressable
Features:
Matches wallet addresses with social profiles
AI-driven campaign optimization and audience targeting
Supports multi-channel campaigns across social and Web3 platforms
Bridges Web2 and Web3 data for unified attribution
Pros:
Support for ads with cost per wallet analytics
Visibility into conversion funnels from ad engagement to on-chain actions
AI-driven optimization reduces acquisition costs and improves targeting
Supports cross-channel campaigns combining off-chain and on-chain results
Cons:
Focused on advertising, with limited product analytics data
Missing support for custom charts and dashboards
Blockchain support is limited to 7 chains
No real-time alerts
6. Dune
Features:
SQL-based querying platform with customizable dashboards
Community-driven ecosystem with pre-built dashboards and queries
Supports multi-chain blockchain data
APIs and data export for embedding insights
Pros:
Highly flexible for building custom metrics, funnels, and reports
Large community provides pre-built solutions and learning resources
Strong for ad-hoc queries and protocol-level insights
Cons:
Limited/no off-chain event tracking; first half of user journey data missing
Requires SQL knowledge and technical expertise
Not tailored for marketing attribution or product funnels
Real-time performance may require additional infrastructure
No attribution feature
How to Choose the Right Web3 Analytics Tool
Selecting the optimal analytics platform requires evaluating your specific needs and constraints:
Define your goals: Determine whether you're focused on product analytics, marketing attribution, or social media growth. Teams prioritizing user behavior analysis and audience insights might prefer Formo, while teams focused on advertising ROI might choose Spindl or Addressable.
Review ease of use: Evaluate how important no-code dashboards, simple SDK integration, and robust APIs are for your team. Technical teams comfortable with SQL might prefer Dune's flexibility, while growth-focused teams might benefit from Formo's user-friendly interface.
Choose privacy-friendly solutions: Ensure the platform aligns with your commitment to user privacy and regulatory compliance. Look for tools that avoid invasive tracking methods and maintain high security standards.
Evaluate cost and support: Compare pricing models and customer support quality. Consider both short-term costs and long-term viability as your protocol grows.
Making Data-Driven Decisions in Web3
The right Web3 analytics tool is essential for navigating the uncertainties of building onchain applications. Whether your goal is product optimization, marketing ROI improvement, or user growth, web3 analytics platforms provide the insights you need to make informed decisions.
Understanding your users' complete journey from initial discovery through onchain conversion and retention enables data-driven teams to optimize every touchpoint and accelerate sustainable growth.
Ready for a complete view of your onchain users? Get started with Formo for free and experience unified analytics built specifically for Web3 teams.
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