Following Celsius’ On-Chain Financial Activity as Withdrawals are Halted
Late Sunday night (ET), the Celsius Network, one of the largest crypto asset lenders, dampened the mood on an already fragile crypto market with news that it was pausing all withdrawals, swaps, and transfers of crypto assets for user accounts on the [...]
Analyzing FTX & Coinbase Spot Volume Trends
May 2022 was a month full of changes in the crypto market. Amid the volatility, crypto exchanges experienced a big uptick in trading volume. In this week’s State of the Network, we take a look at some recent crypto trading [...]
State of the Network at Three Years Old
State of the Network just turned three years old! Bitcoin, Ethereum, and the rest of the crypto ecosystem has grown a lot since our first issue. In a special edition to celebrate 3 years of State of the Network we’ve [...]
Ethereum’s Token Shakeout
Ethereum’s 2014 whitepaper imagined many different future applications for the smart contract platform. But the very first application discussed in the paper has arguably turned out to be the most prominent of all today: token systems. Broadly speaking, tokens are sub-currencies [...]
Surveying Stablecoins in the Wake of the LUNA/UST Collapse
Stablecoins have come under increased scrutiny over the last week following TerraUSD’s (UST) sudden collapse. On May 12th, Tether (USDT) – the largest stablecoin today by total supply – started to dip below its $1 peg, causing some brief panic [...]
Crypto, Global Markets Fall Amid Renewed Volatility
As US equity markets closed Monday, bitcoin (BTC) hovered around $31K, the weakest level this year. As the macroeconomic environment and outlook for future interest rates has quickly shifted in 2022 almost every asset class has been stricken with increased volatility.
The BAYC Burn: Breaking Down the Otherside Gas War
On Saturday night Yuga Labs, the creators of Bored Ape Yacht Club (BAYC) launched their much anticipated “Otherside” metaverse land NFT mint on Ethereum. Although the team posted that they were taking steps to “dramatically soften the potential for a massive gas war” before [...]
NEU Blockchain Club + Coin Metrics: The Cambrian Explosion of Stablecoins
Coin Metrics was originally founded in 2017 as an open-source project created in response to the dearth of high-quality crypto data needed for research. We’re excited to continue building upon that vision by supporting crypto research at some of the premier academic [...]
Halfway to the Next Halving: The State of Bitcoin in 8 Charts
Bitcoin is approaching the halfway point to yet another milestone for the protocol, the 4th halving event – the 4th protocol designed 50% reduction in block rewards that occurs every 210,000 blocks (roughly 4 years). The predetermined halving schedule allows [...]
Launching Uniswap Swap Data
As part of an ongoing effort at Coin Metrics to collect and contextualize on-chain data from DeFi protocols, we’re excited to be releasing data for decentralized exchanges (DEXs) as part of our market data feed. Our first release covers swaps [...]