CM Network Data Pro Release: Updates and Enhancements to the Exchange Flows Metrics

Coin Metrics is pleased to announce the release of CM Network Data Pro Daily Macro Version 4.4 and CM Network Data Pro Block-by-Block Version 2.1. 

Flows Metrics Updates and Enhancements

These releases are centered around a large enhancement to our on-chain exchange-related metrics (including flows and transfers into/out of exchanges as well as the total supply of native units held on exchanges). Because these metrics requires sourcing information external to the chain (to tag addresses related to an exchange) and because this information needs to be monitored closely, in order to offer professional-grade on-chain exchange-related data, a rigorous daily human review process is necessary (in addition to automated processes). 

This update therefore included i) a deep historical review of this data, ii) the implementation of a new daily human quality control process (in addition to existing and revised automated processes), and iii) the implementation of a new API with status labels that identify when a particular observation has been manually reviewed and revised (as necessary). The end result is a far more complete picture of this information for exchanges both historically and moving forward. 

To our knowledge, this process will be the first of its kind in the industry and highlights Coin Metrics’ commitment to providing professional and innovative services. This provides clients greater confidence in the accuracy of these data and greater immediacy and transparency into the review of anomalous activity and any subsequent adjustments. 

Finally, please note that CM intends to release a more complete methodology and background document in the coming weeks.

Updates and Enhancement Benefit

Please see below for a demonstration of the benefit of the updated methodology versus the old methodology. You can see that the current, enhanced methodology captures more of the total BTC and ETH supply across exchanges than the original methodology. 

Other Updates and Notes

  • Binance Chain updated its transaction fees schedule, reducing fees by as much as one half. Binance Chain’s code is closed source and Coin Metrics cannot cannot audit the logic used to compute fees. Instead, Coin Metrics has hard coded the fee structure. The change in fees has not yet been reflected in Binance Chain’s fee-related metrics in our Network Data Community data and the current fee-related metrics are likely overestimates. This change will be reflected in a future release and we will update at that time.
  • Removal of Certain Pre-Mainnet Assets. The following assets will be removed from our Network Data Community API and toolings. These assets were supported during their initial launch as ERC-20 tokens but these projects have since migrated to their own mainnets. Since these mainnets are not currently supported, it makes little sense to continue to offer these historical (and now outdated) data. Please note: the historical data will not be deleted from our storage (it will be retained) but it will no longer be available in our Community products. Below is the list of removed assets:
    • Aeternity (ae)
    • Aion (aion)
    • Bytom (btm)
    • ICON (icx)
    • Loopring (lrc)
    • Nebulas (nas)
    • QTUM (qtum)
    • VeChain (vet)
    • Ziliqa (zil)

Please reach out to Coin Metrics ([email protected]) for more information on CM Network Data Pro.

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