Unique crypto insights across a wide range of topics.
How Uniswap V2 Swaps Work
A walk through the inner workings of the Uniswap V2 decentralized exchange (DEX), including the function of automated market maker (AMM) in enabling token pair swaps.
Recent
Q3 Refresh of Trusted Spot Volume Framework (Full Length)
This post is designed to be a follow up to our ‘trusted volume’ framework post (link) earlier this summer. We [...]
Analyzing the Fallout from the BitMEX Lawsuits (Full Length)
On October 1st, the CFTC and Department of Justice jointly announced charges filed against BitMEX’s owners and operators. The CFTC [...]
Q3 2020 Supply Transparency Report
The Supply Transparency Report brings visibility to the actions of the key categories of a cryptoasset’s holders that are deemed [...]
Introducing the CMBI Multi Asset Series (Full Length)
In this week’s State of the Network we are excited to announce the release of the CMBI Multi Asset Series, [...]
Ethereum’s DeFi Evolution: How DeFi Is Fueling Ethereum’s Growth (Full Length)
Decentralized finance reached new heights over the last few months as dozens of projects launched and large amounts of capital [...]
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 [...]
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 [...]
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 [...]
Special Insights
The Rise of NFTs
Since the dawn of the Internet people have been creating content and sharing it online. From videos, to music, to memes, the web is full of digital objects. But for most of the Internet’s history there hasn’t been a way [...]
The Crypto Futures Data Primer
Derivatives are complex investment products, often used as part of advanced trading strategies. Understanding futures fundamentals can give you deeper insight into market dynamics and price movement. In this piece we explore the basics of crypto futures data. In particular, [...]
On-Chain Indicators
Bitcoin represented (among other things) a huge step forward in terms of financial data transparency. Since all transactions are publicly recorded on-chain, a whole new set of fundamental indicators is available to crypto investors. We take a look at some [...]