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Explore the digital assets ecosystem through our catalog of original data-driven research.
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Analyst Spotlight Tether (USDT) Overview
Discover why Tether (USDT) is the leading stablecoin in Coin Metrics’ latest analysis, highlighting its deep liquidity, peg stability, and

Stablecoin Sector Analysis
Stablecoins—digital assets designed to maintain a stable value, typically pegged to the U.S. dollar—have rapidly evolved from niche trading tools

Analyst Spotlight Solana Overview
Solana’s focus on high transaction throughput and cheap fees has allowed developers to deploy products that may not have been

Macroeconomic Indicators for the Crypto-Economy
Just like a nation state’s economy has economic concepts (such as gross domestic product, inflation, and unemployment), a crypto asset

The Signal and the Nonce: Hunting for ASICs in Nonce Distributions
The Great ASIC Debate. Since the early days of Bitcoin, the community has argued about whether to fight against increasingly powerful mining

Bitfinex Market Share is Declining
Bitfinex, the controversial Hong Kong based exchange at the heart of ongoing investigations against Tether, has been one of the biggest

BTC Is Close to $1B of All-time Fees, But Fee Growth is Slowing
BTC is close to eclipsing $1 billion of cumulative, all-time transaction fees. As of October 13th, there have been $996,458,718

Tezos Market Cap Bounced Back in 2019, But Still Has Little Usage
After a controversial start, Tezos (XTZ) has bounced back in 2019. Since the start of 2019, XTZ’s market cap has grown

Large Market Sell-Off + BTC Hash Rate Dip
A double header this week: This week’s issue has two weekly features. The first is about the recent market sell-off,

Stellar Airdrops Are Mostly Transferred to Exchanges or Unclaimed
Stellar Airdrops Are Mostly Transferred to Exchanges or Unclaimed On November 6th, 2018, Blockchain.com announced it was creating the “largest crypto giveaway

ETH is Overtaking BTC in Daily Transaction Fees, Driven by Tether
ETH is on the verge of overtaking BTC in daily transaction fees. As of September 15th, ETH had $182,899 daily

Bitcoin and Tether Volume Distribution by Exchange
Exchanges are a crucial piece of the crypto ecosystem. Successful exchanges can help fuel tremendous growth. But exchanges also represent

Stablecoin Summer 2019 Review
The stablecoin wars heated up this summer. Now that summer is nearing an end, we took a look back at

CM Real-Time Reference Rates Research Summary
Coin Metrics has conducted substantial research and backtesting to develop the methodology used in the CM Real-Time Reference Rates. Like

BTC Realized Cap Passes $100 Billion
On August 23rd, BTC realized cap passed $100 billion for the first time ever. Realized capitalization is a metric created by