Insights
Explore the digital assets ecosystem through our catalog of original data-driven research.
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Analyst Update – Bitcoin
Our initial Bitcoin Asset Analysis in September 2024 highlighted the increasing scarcity of BTC, its benefits in modern portfolio theory,

Layer 1s – Vertical Analysis
Layer-1 blockchains have continually reshaped the digital asset landscape. Bitcoin set the foundation in 2009 with decentralized peer-to-peer money, followed

Trusted Exchange Framework
Coin Metrics’ Trusted Exchange Framework (TEF) is a quantitative evaluation of crypto exchanges. We leverage the CM Market Data Feed

No Ordinary Number: Exploring Bitcoin Ordinal NFTs
In this State of the Network, we dig into the data behind an emergent use case for Bitcoin blockspace.

SOTM February 2-8, 2023
Crypto’s own “Operation Choke Point” is allegedly under way as the long arm of the law tightens its grip on

DeFi & Real World Assets: An Introduction to Goldfinch Finance
A crucial step in the evolution of DeFi is its intersection with Real-World-Assets (RWAs). In this issue of State of the Network, we

SOTM January 26-February 1, 2023
This week the market told the Fed to take a hike, with CME’s Federal Fund futures pricing in a near-99%

What is MEV anyway?
MEV was never an element of the design of Ethereum—instead, it was an emergent phenomenon, and one that surprised everyone

What is MEV Anyway?
The concept of MEV has sparked a significant amount of interest and concern in the blockchain community, and this paper

SOTM January 19-25, 2023
The Layer-1 era has returned, with base-level blockchains booming amid a mass migration of dApps and NFT projects. Among a

Monitoring the Currents of the Crypto Market
The digital asset market is experiencing a surge in activity as we kick off the new year. Bitcoin is up

Bitcoin Supply Trends
In the aftermath of last year’s market downturn and eventful year in the digital assets space, what are some observations

SOTM January 12-18, 2023
Bitcoin spent the week teasing traders with a taste of $20K, as easing inflation & heightened enforcement offered mixed signals

SOTM January 5-11, 2023
Even as Bitcoin eyes $19K and Grayscale’s GBTC discount narrows, many investors are steering clear, anxiously waiting for the last

The State of DeFi Tokens in 2023
In this issue of the State of The Network, we take a look at the latest developments of tokens in