Transaction graph analysis is a methodological approach within the field of blockchain analytics that models the history and flow of value transfers on a distributed ledger as a network graph. It investigates the structural properties, transactional pathways, and participant interactions within this network by representing entities (such as wallets or addresses) as nodes and transactions as directed edges, enabling the identification of key participants, tracing of specific funds or transaction sequences, and detection of patterns indicative of financial activity, including illicit flows.