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

SOTM March 13 – March 19, 2025
Bitcoin Rebounds Past $85k | Ethena Labs and Securitize Announce Converge | Coinbase Launches Verified Pools on Base | SOL

The Cross-Currents Shaping Crypto Markets
In this issue of Coin Metrics’ State of the Network, we assess the drivers behind recent weakness in crypto markets and

SOTM March 6 – March 12, 2025
Volatility Continues to Pressure Crypto Markets | Trump Signs Executive Order to Establish Strategic BTC Reserve | Cboe Files Amendments

How-ey Can Get Out of Here
In this issue of Coin Metrics’ State of the Network, we’ll address some of Commissioner Peirce’s questions and demonstrate how on-chain

SOTM February 27 – March 5, 2025
Markets Stay Volatile | Trump Proposes Strategic Crypto Reserve | SEC Drops Kraken, Cumberland Cases | BlackRock Adds 1–2% BTC

Analyst Spotlight Solana Overview
In this issue of Coin Metrics’ State of the Network, we bring you the latest installment in our “Asset Spotlight” series, this

Movers & Shakers March 2025
Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with

SOTM February 20 – February 26, 2025
Bybit’s Big Hack | Citadel Securities Signals Entry into Crypto Market Making | BofA Expresses Interest in Launching Stablecoin |

Bybit Burglarized For a Billion
In this issue of Coin Metrics’ State of the Network, we turn our attention to the Bybit exchange hack, utilizing on-chain

SOTM February 13 – February 19, 2025
$LIBRA Rattles Market | Mubadala Discloses Stake in Blockrock’s BTC ETF | FTX Begins Bankruptcy Payments | SEC Acknowledges 21Shares

Pectra: Ethereum’s Next Major Upgrade
In this issue of Coin Metrics’ State of the Network, we break down Pectra’s key changes and what they mean for

SOTM February 6 – February 12, 2025
Bitcoin Briefly Dips Below $95K | Goldman Sachs’ 13F Filing Reveals BTC and ETH Holdings | 21Shares to Intro Staking