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

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

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

Introducing the Coin Metrics Quarterly Supply Transparency Report
Part of Coin Metrics’ mission is to provide the community with transparent cryptoasset market and network data that allows investors

Introducing the Coin Metrics Quarterly Supply Transparency Report (Full Length)
Key Takeaways Coin Metrics will release Quarterly Supply Transparency Reports, with today’s Q2 Supply Transparency Report being the first of

Q2 2020 Supply Transparency Report
The Coin Metrics Cryptoasset Supply Transparency Report brings visibility and insight into the actions of the key categories of a