Research Analyst

Kyle is a Research Analyst at Coin Metrics, where he leverages Coin Metrics’ network and market data to study foundational and novel topics in the crypto ecosystem. He produces data-driven insights in the weekly State of the Network newsletter and other long-form research content. Prior to joining Coin Metrics, he worked in economic consulting and studied economics and mathematics at Boston College.

Explaining Some of Crypto’s Biggest Data Anomalies

By |2021-12-06T00:48:01+00:00November 30, 2021|Kyle Waters, Nate Maddrey, State of the Network|

The history of economics and finance is filled with examples of data oddities and irregularities. Numerous economic time series are marked by sudden spikes and abrupt trend reversals. Some better-known examples include fiat currency collapses, financial crises, flash crashes, and [...]

Do Ethereum Gas Fees Vary by Time and Day of Week?

By |2021-11-24T00:11:10+00:00November 24, 2021|Kyle Waters, Nate Maddrey, State of the Network|

With network activity rising and ETH’s price above $4K, twenty-two days into November there has yet to be a day with sub-$30 mean transaction fee on Ethereum. With fees on the rise some users might be wondering if it makes sense to [...]

Smart Contract Platforms Lead the Market to New All-Time Highs

By |2021-11-13T20:31:02+00:00November 9, 2021|Kyle Waters, Nate Maddrey, State of the Network|

The Coin Metrics CMBI10 index hit new all-time highs this past week as bullishness picks up across the market. The CMBI10 index (Coin Metrics Bletchley Indexes) consists of the 10 largest cryptoassets weighted by their free float market-cap.  ETH has led [...]

Unpacking the data behind bitcoin’s new all-time high and inaugural ETF launch

By |2021-10-27T17:24:28+00:00October 26, 2021|Kyle Waters, Nate Maddrey, State of the Network|

After a 189-day gap between its last all-time high, bitcoin’s price soared to new heights on October 20th, breaking above the $65K mark for the first time. The new highs followed on the heels of the successful launch of the [...]

Are BTC and ETH Spot Markets Maturing? Assessing the Health of Crypto Market Structure Using Order Book Data

By |2021-10-13T23:24:14+00:00October 13, 2021|Kyle Waters, Nate Maddrey, State of the Network|

In just a little over two weeks, October 31st will mark the 13th anniversary of the release of the Bitcoin white paper in 2008. Although the crypto market is still in its relative youth, crypto market structure is rapidly evolving and developing [...]

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