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

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

Ethereum’s DeFi Evolution: How DeFi Is Fueling Ethereum’s Growth (Full Length)
Decentralized finance reached new heights over the last few months as dozens of projects launched and large amounts of capital

Bitcoin: A Novel Economic Institution
Below is an excerpt of a research report authored by ARK Invest and Coin Metrics. In Part 1 of this research, we described how

Bitcoin As An Investment (ARK Invest + Coin Metrics)
In Part 1 of this research, we described how we believe Bitcoin, a novel economic institution, satisfies the four assurances

Measuring Bitcoin’s Decentralization
Over the last eleven years, Bitcoin has managed to function relatively seamlessly in the face of a large number of

Measuring Bitcoin’s Decentralization (Full Length)
Key Takeaways Bitcoin’s decentralization can be quantified in terms of supply dispersion, hashpower distribution, and exchange consolidation, among other metrics.

Improving your Futures Roll: An Overview of the Basis Trade (Full Length)
Key Takeaways As futures volume balloons we take a look at the basis trade, which is when traders build a

An Overview of the Basis Trade
One of the most popular trades for any commodity futures is the basis trade. This is when traders build a

Bitcoin: A Novel Economic Institution (ARK Invest + Coin Metrics)
This paper lays out the case for Bitcoin. In Part 1, we describe how the Information Age gave rise to

The Privacy Issue
The early 1990’s saw the dissemination of two great forces that would come to shape the next decades: the Internet,

The Business Trends of Crypto Exchanges
State of the Network has predominantly focused on the network and market data happenings of the crypto industry. In this

The Business Trends of Crypto Exchanges (Full Length)
Key Takeaways Crypto exchanges have gone from nothing to a relatively mature industry very quickly. The maturation process of exchanges

How YAM’s Collapse Drove Ethereum Fees to New Heights
On August 12th Ethereum’s total daily transactions fees topped $6.87M, shattering the previous all-time high of $4.55M set in January