On-chain data is a powerful tool for evaluating cryptocurrency projects, offering insights into network activity, user adoption, and market sentiment. Dune Analytics excels in providing customizable, community-driven dashboards and SQL-based queries, making it ideal for analyzing DeFi, NFT, and token projects. By focusing on metrics like TVL, active addresses, token distribution, and exchange flows, and combining insights with tools like Glassnode, Nansen, or DeFi Llama, investors can make informed decisions. However, always complement on-chain analysis with fundamental research and remain cautious of volatile market dynamics.