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

Bitcoin As A Hedge Against Inflation
For most of its existence institutions have stayed away from investing in bitcoin, typically citing it as a risky, speculative

The Bitcoin On-Chain Indicators Primer
We’re excited to introduce our latest in-depth research report: The Bitcoin On-Chain Indicators Primer.

SotM November 2020
November was a strong month across the board for the top cryptocurrencies as most large caps saw double digit 30-day

Signs of Institutional Investors
Over the past few weeks, Ari Paul, Luke Martin, and other commentators have noted that bitcoin’s upward price movements since

Dissecting a Bitcoin Bull Market (Full Length)
A pandemic, followed by global societal shutdowns, followed by rampant social unrest, followed by increased political polarization, followed by unprecedented

Dissecting a Bitcoin Bull Market
A pandemic, followed by global societal shutdowns, followed by rampant social unrest, followed by increased political polarization, followed by unprecedented

The State of DeFi Tokens
Decentralized finance (DeFi) took over the crypto world during the summer. But it cooled off after September, and has taken

The State of DeFi Tokens (Full Length)
Decentralized finance (DeFi) took over the crypto world during the summer. But it cooled off after September, and has taken

Bitcoin: An Unprecedented Experiment in Fair Distribution
Much has been written about the fundamental differences between Bitcoin and other asset classes. In fact, juxtapositions of Bitcoin and

Bitcoin: An Unprecedented Experiment in Fair Distribution (Full Length)
Much has been written about the fundamental differences between Bitcoin and other asset classes. In fact, juxtapositions of Bitcoin and

Following Flows: A Look at Miners’ On-Chain Payments
Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies miner holdings

Following Flows: A Look at Miners’ On-Chain Payments (Full Length)
Key Takeaways Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies