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Explore the digital assets ecosystem through our catalog of original data-driven research.
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Analyst Spotlight Tether (USDT) Overview
Discover why Tether (USDT) is the leading stablecoin in Coin Metrics’ latest analysis, highlighting its deep liquidity, peg stability, and

Stablecoin Sector Analysis
Stablecoins—digital assets designed to maintain a stable value, typically pegged to the U.S. dollar—have rapidly evolved from niche trading tools

Analyst Spotlight Solana Overview
Solana’s focus on high transaction throughput and cheap fees has allowed developers to deploy products that may not have been

An Introduction to Liquid Staking
In this issue of State of the Network, we discuss the need for liquid staking — which allows users to

How Uniswap V2 Swaps Work
A walk through the inner workings of the Uniswap V2 decentralized exchange (DEX), including the function of automated market maker

SOTM March 9-15, 2023
Banking confidence looks bottomless following a flurry of institutional implosions. Between Friday’s FDIC seizure of Silicon Valley Bank and Sunday’s

FDIC Takeover of Silicon Valley Bank: Assessing the Impact on Stablecoins
Silicon Valley Bank (SIVB) was taken over by the FDIC on Friday morning following a bank run that drained their

Trusted Exchange Framework 2.0
Centralized exchanges are a vital part of the crypto ecosystem but vary widely in quality across several use-cases. In order

SOTM March 2-8, 2023
Once hailed as the gateway to mass adoption, institutions have been no silver bullet for crypto’s liquidity woes. After losing

Decentralized Exchanges Four Months After FTX
Using data from Coin Metrics’ DEX data feed, we examine the underlying activity on Uniswap and Sushiswap to understand usage

SOTM February 23-March 1, 2023
With regulators refusing to turn the page, crypto companies are taking extra time to get their papers in order. Though

Decoding Crypto Pricing: Insights for Institutional Investors
In this report, we aim to compare and contrast Coin Metrics’ two independent pricing methodologies, elucidate their underlying accounting rationale,

Decoding Crypto Pricing
A price is one of the most basic data points of any functioning, active market. Digital assets are traded around

Decoding Crypto Pricing
A price is one of the most basic data points of any functioning, active market. Digital assets are traded around

Dancing with the Regulator: Stablecoin Data in the Wake of New Regulatory Action
In this State of the Network, we examine stablecoin data following the recent regulatory developments surrounding the Binance USD (BUSD)