SOTM Apr 4-10, 2024
Welcome to our 167th issue of State of the Market, where we provide an overview of crypto market activity from April 4 - 10, 2024. Bankrupt lender Genesis exits their multi-billion dollar GBTC position, while ETF trading volumes top $200B with [...]
Latest Research
Measuring Bitcoin’s Trading Volume
Current market conditions have led to a resurgence of institutional interest in Bitcoin. In the face of an unparalleled monetary [...]
Best of the First Year of State of the Network
In this special edition, we look back at the best issues of the past year to celebrate State of the [...]
The Half-Time Show: The State of Bitcoin Network Security After the Halving
Block rewards are currently the primary source of revenue for miners. A reduction in this reward due to the halving [...]
Stablecoin Heatmaps Show Tether is Mostly Used During Asian and European Market Hours
Stablecoin market capitalization has almost doubled since the Black Thursday crash. But the exact cause of the surge is still [...]
Introducing the CMBI Bitcoin Hash Rate Index and ‘Observed Work’
Designing The Tools For Hash Rate Futures: Introducing the CMBI Bitcoin Hash Rate Index and ‘Observed Work’ Key Takeaways [...]
Creating a Better Supply Measurement: Introducing Free Float Supply
An accurate measure of supply is crucial in determining a cryptoasset’s value. However, the definition and methodologies of calculating supply [...]
Assessing the Long-Term Fallout from Crypto’s Black Thursday
On March 12th 2020, now called “Black Thursday,” Bitcoin’s price dropped by nearly 50%, one of its largest drops since [...]
Investigating Bitcoin’s Changing Correlations
Is Bitcoin an Uncorrelated Financial Asset, A Safe Haven Asset, or Both? Investigating Bitcoin’s Changing Correlations By Nate Maddrey and the Coin Metrics Team [...]
The Signal and the Nonce Redux: From S9s to S17s
As Bitcoin enters its next halving, the network is experiencing several simultaneous transitions. In addition to the severe change in [...]