State of the Network is an unbiased, weekly report informed by Coin Metrics’ own network (on-chain) and market data and is an essential resource for professionals and enthusiasts seeking to stay up-to-date on the latest trends and most important developments within the digital assets industry.
Ethereum Update: Can Further Scaling Return Value to Ethereum?
Ethereum surged past $4,500 in August 2025, fueled by Digital Asset Treasuries and stablecoin legislation. This update explores the drivers
Shakeup in the Stablecoin Sector
An update on stablecoin competitive dynamics in the wake of the GENIUS Act
The Different Flavors of ETH: From Wrapped to Liquid Staked Tokens
A look at landscape of tokenized versions of ETH, focusing on liquid staking tokens, analyzing their pricing mechanics, reward structures,
Bitcoin Update: Is Network Activity Keeping Up With Demand?
Coin Metrics follows up on the 2024 Bitcoin Analyst Report, highlighting BTC’s surge past $124k alongside accelerating ETF inflows and
Monero’s Stress Test & The Risks to PoW Security
Monero’s incident with Qubic and what it reveals about PoW security
Layer-1s Vertical Analysis
Coin Metrics Vertical Analysis: Layer-1 blockchain architectures, usage, and token economics
Exploring the On-Chain Effects of Ethereum Treasuries
Supply Dynamics, Ecosystem & On-Chain Impact of ETH Treasury Companies
Taking Stock of Crypto Exchanges Pursuing an IPO
A look at crypto exchanges preparing to go public
The Flows Behind the Crypto Market’s Rise to $4T
The factors fueling crypto’s recent climb toward $4T
Canton Network Overview
An overview of Canton Network’s architecture, its native token Canton Coin, and how it aligns participant incentives
Analyst Spotlight Circle (USDC) Overview
A deep dive into Circle’s USDC and the factors driving its adoption
State of the Network’s Q2 Wrap Up
A data-driven overview of developments shaping crypto markets in Q2-2025 by the Coin Metrics team
