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

Surveying the Bitcoin Perpetual Swap Market
The crypto market is still young and the contract structure of derivatives varies across exchanges. Derivatives lack a standard methodology

Derivatives’ Disparities: Surveying the Bitcoin Perpetual Swap Market (Full Length)
Key Takeaways The derivatives market is fragmented and contract terms differ dramatically across exchanges. The quality of documentation in the

Introducing Coin Metrics’ Trusted Volume Framework
Fake trading volume is a persistent problem on crypto exchanges. With little regulatory oversight, it can be difficult to determine

Introducing Coin Metrics’ Trusted Volume Framework (Full Length)
Key Takeaways Fake trading volumes have been a dark mark on the industry – it is difficult to find a

Analyzing The Early Uses of Bitcoin
Since its inception in 2009, Bitcoin triggered many discussions around its raison d’être. Conflicts between different points of view of what

Analyzing The Early Uses of Bitcoin (Full Length)
This feature is adapted from Antoine Le Calvez’ presentation at the MIT Bitcoin Expo 2020. Since its inception in 2009,

The Rise of Stablecoins
The idea of having a stable digital currency has existed for a long time, and even predates Bitcoin. But for

The Rise of Stablecoins
Stablecoin supply has exploded in 2020 but it’s unclear exactly why. After it took 5 years for stablecoin supply to

When Markets Misalign: Mispricings and Reference Rates
Price discrepancies between exchanges can emerge for a variety of reasons, including market manipulation, exchange downtime, and trader error. These

When Markets Misalign: Mispricings and Reference Rates (Full Length)
Key Takeaways Price discrepancies between exchanges can emerge for a variety of reasons, including market manipulation, exchange downtime, and trader

Introducing Free Float Supply
Until now, a standardized approach to determining the free float supply (the supply that is available to the market) of

Introducing Free Float Supply (Full Length)
Key Takeaways Until now, a standardized approach to determining the free float supply (the supply that is available to the