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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

SOTM June 23-29, 2022
Crypto companies are undergoing major shake-ups as bailouts and bad earnings spur a series of corporate reorgs. Hedge fund Morgan

The State of the Network Q2 2022 Mining Data Special
In last week’s State of the Network we noted that the most active Bitcoin miners have likely been moving around their coins amid increased

SOTM June 16-22, 2022
The liquidation cascade has swelled into a tsunami as crypto firms nervously eye even their most credible counterparties. As the

Following Flows IV: Pruning Payouts
This week’s State of the Network adds to our “Following Flows” series of research devoted to understanding miners’ blockchain activity. Bitcoin

SOTM June 9-15, 2022
The crypto rumor mill is churning with accusations of insolvency as leverage begins to unwind across the ecosystem. Second-order effects

Following Celsius’ On-Chain Financial Activity as Withdrawals are Halted
Late Sunday night (ET), the Celsius Network, one of the largest crypto asset lenders, dampened the mood on an already

SOTM June 2-8, 2022
Hawkishness is back in vogue as central banks nix stimulus in an effort to curb decades-high inflation. On the heels

Analyzing FTX & Coinbase Spot Volume Trends
May 2022 was a month full of changes in the crypto market. Amid the volatility, crypto exchanges experienced a big

State of the Network at Three Years Old
State of the Network just turned three years old! Bitcoin, Ethereum, and the rest of the crypto ecosystem has grown

SOTM May 26-June 1, 2022
Crypto markets are struggling to regain composure as Bitcoin staggers around the $30K level. This week was characterized by more

SOTM May 19-25, 2022
Though the crypto slump has reached a state of strained stasis, investors remain wary of the market’s downward momentum. For

Ethereum’s Token Shakeout
Ethereum’s 2014 whitepaper imagined many different future applications for the smart contract platform. But the very first application discussed in the