Insights
Explore the digital assets ecosystem through our catalog of original data-driven research.
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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

Analyst Spotlight USDC Overview
The Coin Metrics Analyst Spotlight explores USDC’s expanding role in digital finance, unpacking its adoption across blockchains, integration with DeFi

A Year After The Crash
On March 12, 2020, amid rising panic over the rapid spread of COVID-19, bitcoin (BTC) crashed from about $8,000 to

SOTM March 4-10, 2021
This week marks a potential turnaround in price action as Bitcoin continued its rally off of the drawdown seen at

Measuring Ethereum Miner Activity
The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work algorithm, Ethash, was

Following Flows III: Measuring Ethereum Miner Activity
Ethereum and Mining The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work

SOTM February 25 – March 3, 2021
This past week was the first time in over four weeks that we did not see a new all-time high

Back on Solid Ground
The market took a downturn last week after bitcoin (BTC) reached as high as $58K. The stock market also sold

SOTM February 16-24, 2021
Another week means another all time high price. Bitcoin continued to push to higher price levels on further momentum and

Analyzing Miner to Exchange Flows
Miners are often considered natural sellers of bitcoin (BTC). Their revenue is earned from block rewards and transaction fees which

Following Flows II: Where do Miners Sell?
Miners are frequently blamed for causing dips in the price of Bitcoin. These accusations are often unsubstantiated—worse still, they’re sometimes

SOTM February 1-15, 2021
The bull market rages on. The aging euphoria was renewed earlier this month when Tesla announced that they had added

Crypto Trust Supply Sinks
Late last week BNY Mellon, the world’s largest custodian bank with over $2 trillion in assets under management, became the

Inflection Points
Tesla announced a $1.5B purchase of bitcoin on Monday, less than two weeks after Elon Musk added #bitcoin to his Twitter bio.