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Explore the digital assets ecosystem through our catalog of original data-driven research.
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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
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
Evaluating Bitcoin forks with network data
Determining the success of a UTXO fork is a fraught exercise. There is no agreed-upon standard for measuring adoption. Establishing
Granular mining pool mapping with Bitcoin’s coinbase outputs
How concentrated is block formation in Bitcoin? Which mining pools are dominant, and how long have they held that position?
Don’t trust, verify: A Bitcoin Private case study
Bitcoin Private (BTCP) is a fork-merge of Bitcoin and ZClassic (ZCL, a fork of ZCash that removed the founders’ reward).
Introducing Realized Capitalization
The motivation for the creation of Realized Cap was the realization that “Market Capitalization” is often an empty metric when
What should we expect from Bitcoin’s block size in the coming years?
tl;dr: under full SegWit adoption you should expect blocks in the 1.6-2 mb range, with larger outliers. How big will
Introducing our adjusted transaction volume estimates
As we have exhaustively covered, getting accurate estimates of the actual economic throughput of public blockchains is not a trivial
An analysis of batching in Bitcoin
On May 6th, 2017, Bitcoin hit an all-time high in transactions processed on the network in a single day: it
On data and certainty
Being certain is a lovely thing. Despite what many would allege about the poor finality of proof of work, the
On the difficulty of estimating on-chain transaction volume
We are happy to report that this site is getting quite a bit of attention these days. We never anticipated
An important network value to transaction ratio caveat
If you’ve been following coinmetrics closely, you might be convinced of the usefulness of our network value to transactions metric
Mean-reversion and reflexivity: a Litecoin case study
Litecoin is a remarkable cryptocurrency. Of the seven currencies we profiled, its MTV ratio is among the steadiest (in our
Why should I pay attention to the NVT ratio, anyway?
Our very first contribution to the body of research on cryptoassets is one we think will become mainstream as this
