NDP 5.1 IS HERE!

Asset Additions

NDP 5.1 brings 2 new assets to the Coin Metrics coverage universe:

Algorand (ALGO), which is a smart contract platform that has been frequently requested by our clients.

Lido Staked ETH (STETH_LIDO), which is our stepping stone to Ethereum 2.0 metrics. STETH represents Ether that has been staked in ETH2’s Beacon Chain via the Lido protocol and sheds light on the emerging trend of Proof-of-Stake derivatives.

Quant (QNT) is an interoperability solution built atop Ethereum that has recently attained high market capitalization.

Metric Additions

Whale Metrics

In the previous release, one of our goals was to enable clients to better understand the predominance of retail user activity across multiple cryptoassets via metrics like Sum Value of Payments Below $100, $500, $1000 and $10,000 USD.

In this release, we apply these metrics to transactions on the other extreme, the so-called whale transactions, which may represent the on-chain footprint of large financial institutions and enterprise users.

Like the previous set of metrics, our Sum of Payments Above metric family features incidence (count) and well as aggregate value metrics for the following thresholds: $100k, $1M, $10M, and $100M USD.

New Smart Contract Metrics

Our Active Address Metric is often used as a proxy for on-chain activity taking place on any given day. In this release, we have applied our active address methodology to a specific type of blockchain entity: smart contracts.

Smart contracts are predominantly implemented as a blockchain address that can execute code. We hope that our new Active Smart Contracts Count metric will enable clients to better discern user-generated activity from smart contract-generated activities.

New Non-Fungible Tokens (NFT) Metrics

The proliferation of NFT auctions pushed the industry to adopt new smart contract standards to more efficiently issue these tokens.

Notably, the ERC-1155 standard has emerged as a contender for the legacy ERC-721 standard that has been historically used to issue NFTs.

In addition to ERC-721 metrics, Coin Metrics now supports ERC-1155 Transfers Count, Transactions Count, and Smart Contracts Count.

New Wallet Metrics

We are also excited to release our new family of wallet metrics. Wallets represent groups of addresses that we estimate are owned by the same entity.

Since users may own several addresses, it can be challenging to get good proxies of on-chain user behavior using address-level metrics alone.

We hope that this new family of metrics can provide a more accurate view of user behavior through the concept of wallets.

In order to group addresses together, we employ a clustering methodology based on well-established industry standards to provide a wide range of wallet-based metrics, such as Active Wallets Count, as well Value in Wallets w/ a Balance greater than multiple supported thresholds.

Metric Corrections

Ethereum Miner Revenue From Fees (FeeRevPct) was corrected in order to adjust for Base Fees, which are taken out of circulation after a transaction is mined.

Ethereum ERC-20 & ERC-721 metrics have been improved to more precisely account for contracts that generally abide by these standards.

Bitcoin SV Mean Tx Fee (USD) was corrected after a 51% attack impacted the calculation of this metric.

Supply Top 1% (SplyAdrTop1Pct) was adjusted to account for 0-balance addresses.

The Supply Equality Ratio (SER) has been corrected as a result of the SplyAdrTop1Pct recalculation.