SOTM Apr 18-24, 2024
Welcome to our 169th issue of State of the Market, where we provide an overview of crypto market activity from April 18 - 24, 2024. After mining the Halving block late Friday, mining pool ViaBTC auctions off the collectible 'Epic Sat,' [...]
Latest Research
Signs of Institutional Investors
Over the past few weeks, Ari Paul, Luke Martin, and other commentators have noted that bitcoin’s upward price movements since [...]
Dissecting a Bitcoin Bull Market
A pandemic, followed by global societal shutdowns, followed by rampant social unrest, followed by increased political polarization, followed by unprecedented [...]
The State of DeFi Tokens
Decentralized finance (DeFi) took over the crypto world during the summer. But it cooled off after September, and has taken [...]
Bitcoin: An Unprecedented Experiment in Fair Distribution
Much has been written about the fundamental differences between Bitcoin and other asset classes. In fact, juxtapositions of Bitcoin and [...]
Following Flows: A Look at Miners’ On-Chain Payments
Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies miner holdings [...]
SotM October 2020
Almost as quickly as it began, the Decentralized Finance (DeFi) mania subsided in October. With enthusiasm for DeFi waning, many [...]
Fundamentals Show Bitcoin Is Poised for Takeoff
On October 21st Bitcoin (BTC) broke out, rising by about $1,000 on the day. Since then it has topped $13,000 [...]
Q3 Refresh of Trusted Spot Volume Framework
This post is designed to be a follow up to our ‘trusted volume’ framework post (link) earlier this summer. We [...]
Analyzing the Fallout from the BitMEX Lawsuits
On October 1st, the CFTC and Department of Justice jointly announced charges filed against BitMEX’s owners and operators. The CFTC is [...]