Diving deep on everything from the foundational to the bleeding edge
- Original Research
- State of the Network
- State of the Market
The Evolution of Ethereum Tokens
In 2015, Ethereum ushered in a new era for blockchains: the age of the token. Broadly defined, a “token” represents a utility or asset and is typically issued on an existing blockchain. In contrast, a “coin” is a crypto asset [...]
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 can represent a miniature economy that has similar economic concepts. We present our network data using a simple analogy that [...]
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 hardware. In Bitcoin’s early days, mining was performed by CPUs, which are the standard processing units found in most computers. This [...]
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 cryptocurrency exchanges in the world since its launch in 2012. But recently there are signs that its market share may [...]
CM Network Data Pro Daily Macro Version 4.4 Release and Community Updates
Coin Metrics is pleased to announce the release version 4.4 of CM Network Data Pro Daily Macro (End of Day) product. Several of the updates impact our Community data as well. These updates include revisions and enhancements to the following Pro and [...]
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 worth of fees paid on the BTC network. Coincidentally, BTC is also close to reaching another milestone: $15 billion worth of [...]
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 almost in lock step by BTC’s. As of October 6th, XTZ’s market cap has grown by 119%, while BTC’s has [...]
CM Network Data Pro New Releases: Block-by-Block (Version 2.0) and Daily Macro (Version 4.3)
Coin Metrics is pleased to announce the version 2.0 release of our CM Network Data Pro Block-by-Block (Real-Time) and version 4.3 release of Daily Macro (End of Day). Version 2.0 of Block-by-Block features an upgrade to our pricing data from CM Hourly [...]
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, and the second is about the recent BTC hash rate dip. Weekly Feature # 1 Belief in Bull Market Remains [...]
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 in history” in partnership with the Stellar Development Foundation (SDF). The plan was to distribute $125M of Stellar (XLM) among [...]