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

Ethereum’s Bellatrix Upgrade Goes Live in Final Preparation for The Merge
Ethereum moved one step closer to The Merge Tuesday with the activation of Bellatrix, a network upgrade to Ethereum’s Consensus Layer

SOTM September 1-7, 2022
Stablecoins are back in the spotlight as regulators, issuers, and exchanges spar at the intersection of fiat and crypto. Russia

SOTM August 25-31, 2022
Market sentiment has gone for a dip in the wake of Jay Powell’s salient symposium at Jackson Hole. Though many

Mapping Out The Merge
As part of Coin Metrics’ support for Ethereum’s major network upgrade, we are excited to be releasing a new data-driven

Mapping out The Merge
After years of research and development, The Merge will transition Ethereum to Proof of Stake fundamentally changing the network’s security

SOTM August 18-24, 2022
“Code is law” means more than ever before as crypto companies face a host of new regulatory requirements. In a

TTD set, volatility TBD
With Ethereum’s final steps to PoS now engaged, how is the options market pricing in The Merge? This is a

SOTM August 11-17, 2022
There’s a rebellion brewing in the Ethereum ecosystem, and the stakes have never been higher. As the impacts of U.S.

Mapping Account-based Blockchain Data to Virtual UTXOs
At its core, cryptocurrency utilizes complete transparency to help create trust between anonymous users. In comparison to traditional finance, analyzing

SOTM August 4-10, 2022
In a whirlwind week of regulation, privacy protocol Tornado Cash has been swept into the eye of the storm. On

Analyzing Recent Data Behind the Bitcoin Technology Stack
Earlier this year at the Bitcoin 2022 conference, Coin Metrics’ Lucas Nuzzi presented the following diagram showing a sample of some of

WHAT IS GAS ON ETHEREUM, WHY IS IT NEEDED, AND HOW DO I GET SOME?
At the core of Ethereum’s transaction fee market is the important concept of ‘gas.’ In this report, a theoretical explanation