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

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

SOTM May 12-18, 2022
Terra troubles continue to dominate headlines as crypto investors reluctantly recalibrate their risk management techniques. Following a failed campaign to

Surveying Stablecoins in the Wake of the LUNA/UST Collapse
Stablecoins have come under increased scrutiny over the last week following TerraUSD’s (UST) sudden collapse. On May 12th, Tether (USDT)