Kyle is a Senior Research Analyst at Coin Metrics. He produces data-driven insights in Coin Metrics’ weekly State of the Network research note as well as other long-form content across the digital assets ecosystem. Some of his research interests include Ethereum macroeconomics & staking, blockchain fee markets, on-chain wallet tagging, and token distribution models.

Prior to joining Coin Metrics, he worked in economic consulting and studied economics and mathematics at Boston College.

Conducting the ETH Census

Kyle Waters, Lucas Nuzzi, State of the Network

Conducting the ETH Census

The Unexpected Challenge of Calculating Ethereum's Total Supply

January 30, 2024|Kyle Waters, Lucas Nuzzi, State of the Network|

A Short Guide to Bitcoin On-Chain Data for ETF Newcomers

Kyle Waters, State of the Network

A Short Guide to Bitcoin On-Chain Data for ETF Newcomers

Coin Metrics2024-01-17T08:38:47-05:00January 17, 2024|Kyle Waters, State of the Network|

In this edition of State of the Network, we turn our attention to the cohort of ETF newcomers now taking a [...]

State of the Network’s 2024 Crypto Outlook

Kyle Waters, State of the Network, Tanay Ved

State of the Network’s 2024 Crypto Outlook

Coin Metrics2024-01-03T09:02:17-05:00January 3, 2024|Kyle Waters, State of the Network, Tanay Ved|

Digital assets rebounded sharply in 2023 as market conditions improved across the board and institutional interest accelerated alongside the impending [...]

Best of State of the Network in 2023

Kyle Waters, Lucas Nuzzi, Matias Andrade, State of the Network, Tanay Ved

Best of State of the Network in 2023

Coin Metrics2023-12-26T10:23:07-05:00December 26, 2023|Kyle Waters, Lucas Nuzzi, Matias Andrade, State of the Network, Tanay Ved|

In this special edition of the State of the Network, we reflect on a year full of riveting data and crucial [...]

State of the Network’s 2023 Year in Review

Kyle Waters, State of the Network, Tanay Ved

State of the Network’s 2023 Year in Review

Coin Metrics2023-12-19T10:24:26-05:00December 19, 2023|Kyle Waters, State of the Network, Tanay Ved|

In this special issue of State of the Network, we revisit the major stories that shaped the digital assets industry in [...]

State of the Network’s Q4 2023 Mining Data Special

Kyle Waters, Parker Merritt, State of the Network

State of the Network’s Q4 2023 Mining Data Special

Coin Metrics2023-12-12T11:08:25-05:00December 12, 2023|Kyle Waters, Parker Merritt, State of the Network|

This past year has been an eventful one for Bitcoin miners, marked by a major expansion in hashrate across North [...]

Checking On-Chain Indicators for Green Shoots in the Digital Assets Market

Kyle Waters, Matias Andrade, State of the Network

Checking On-Chain Indicators for Green Shoots in the Digital Assets Market

Coin Metrics2023-11-28T09:51:59-05:00November 21, 2023|Kyle Waters, Matias Andrade, State of the Network|

In this week’s edition of State of the Network, we present a selection of indicators that offer us insights against the [...]

November Rally Reaches New Corners of the Digital Asset Market

Kyle Waters, Matias Andrade, State of the Network, Tanay Ved

November Rally Reaches New Corners of the Digital Asset Market

Coin Metrics2023-11-14T09:16:17-05:00November 14, 2023|Kyle Waters, Matias Andrade, State of the Network, Tanay Ved|

Building on the upward momentum from the previous month, digital asset markets extended their strength into November. This market-wide rally elevated the [...]