State of the Market is a weekly newsletter contextualizing the week’s crypto market movements with concise commentary from the Coin Metrics team, rich visuals, and timely data.

SOTM April 6-12, 2023
Seven months post-Merge, Ethereum notches another fork in its chain. The “Shapella” upgrade (combining ‘Shanghai’ for Execution & ‘Capella’ for

SOTM March 30-April 5, 2023
With the second quarter of 2023 underway, digital asset market participants are hoping for a repeat of the first. Despite

SOTM March 23-29, 2023
The SEC stole the show for weeks, but the CFTC just fired the biggest shot yet in the crusade to

SOTM March 16-22, 2023
Just as the tides of monetary tightening go out, banks find themselves deep underwater. Credit Suisse is Europe’s early warning—

SOTM March 9-15, 2023
Banking confidence looks bottomless following a flurry of institutional implosions. Between Friday’s FDIC seizure of Silicon Valley Bank and Sunday’s

SOTM March 2-8, 2023
Once hailed as the gateway to mass adoption, institutions have been no silver bullet for crypto’s liquidity woes. After losing

SOTM February 23-March 1, 2023
With regulators refusing to turn the page, crypto companies are taking extra time to get their papers in order. Though

SOTM February 16-22, 2023
The latest Fed minutes left investors second-guessing how long the rate hike cycle would last. The majority of Federal Reserve

SOTM February 9-15, 2023
After months of kicking the regulatory clarity can, Gensler’s SEC is putting their foot down on crypto compliance. Following Thursday’s

SOTM February 2-8, 2023
Crypto’s own “Operation Choke Point” is allegedly under way as the long arm of the law tightens its grip on

SOTM January 26-February 1, 2023
This week the market told the Fed to take a hike, with CME’s Federal Fund futures pricing in a near-99%

SOTM January 19-25, 2023
The Layer-1 era has returned, with base-level blockchains booming amid a mass migration of dApps and NFT projects. Among a