Here at coinmetrics, we believe in open source everything. That’s our central credo, and it underscores everything we do. We have benefited from a remarkably open cryptoasset information economy, which is quite unique, especially when compared to the regimented and generally closed information ecosystem surrounding equities. Our ideas did not emerge from a vacuum – we routinely bounce thoughts off traders, investors, and academics, and borrow from them. We developed the MTV ratio independently (standardizing transaction volumes by mcap wasn’t a particularly radical idea) but borrowed the nomenclature from elsewhere. We simply seek to innovate and improve upon the quality of cryptoasset research.
That’s why today we launched coinmetrics.io/data-downloads, our second major addition.
We’re aiming to elevate the discourse around cryptoasset investing from conjecture and chart analysis to data-driven conclusions. We’re also trying to give investors the very best tools to conduct their due diligence, whether that means looking at the number of daily transactions (very commonly requested), on-chain transaction volume, or exchange volume. We’ve constructed a simple ratio from the transaction volume and mcap, but any number of ratios could possibly be indicative. We will be discussing the transaction/exchange and the mcap/txn number ratios in greater depth soon.
We are aware that we could easily have hidden this data behind some premium membership paywall, or simply kept it proprietary like many cryptoasset analytics sites do. Extracting these numbers is nontrivial. Yet the goal of this project is not rent-seeking, but instead empowering investors to make better, data-driven decisions.
So if you’re an academic, investor, trader, or just an enthusiast, consider sidling over to coinmetrics.io/data-downloads and playing around with some of the data we’ve procured. We’re interested in any of the charts or signals you might find. And please share any insights with us at @coinmetrics. Cryptoasset investing is a new field, and virtually anyone can make an impact.
A final note: don’t be frustrated by the selection so far. We’re sequencing blockchain data right now, but specifically extracting transaction volume takes time. Our sample was selected to include the most ‘currency-like’ cryptoassets, but we will be broadening it soon. You might be interested to know that the seven cryptoassets profiled in our data and MTV pages account for over 75% of the $108 billion cryptoasset universe. So this sample, small as it may be, is a decent bellwether for the whole network.