General Research
Unique crypto insights across a wide range of topics.

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

An introduction to MTV
Currency serves as a medium of exchange, store of value, and unit of account. The Market to Transaction Value metric