Reporting on the latest network activity
By Coin Metrics|2021-04-07T13:29:20+00:00April 6, 2021|Nate Maddrey, State of the Network|
In December 2020 we released the Bitcoin On-chain Indicators Primer, an in-depth introduction on how to use on-chain data to help gauge crypto market cycles. A lot has happened since then, including several new all-time highs for both bitcoin (BTC) and [...]
By Coin Metrics|2021-03-30T20:39:35+00:00March 30, 2021|Nate Maddrey, State of the Network|
Crypto has already undergone rapid expansion in 2021. We’ve seen new all-time highs and a new wave of adoption and excitement. In this special issue of State of the Network we look back at Q1 2021 and analyze the data [...]
By Coin Metrics|2021-03-24T04:40:28+00:00March 23, 2021|Nate Maddrey, State of the Network|
Ethereum adoption is growing like never before. Decentralized finance (DeFi) continues its rapid rise, stablecoins are being adopted around the world, and NFTs are becoming an everyday topic of conversation.
By Coin Metrics|2021-03-16T19:58:50+00:00March 16, 2021|Nate Maddrey, State of the Network|
On March 12, 2020, amid rising panic over the rapid spread of COVID-19, bitcoin (BTC) crashed from about $8,000 to under $4,000 in a 24 hour period. The rest of the crypto market came crashing down with it. Now, a [...]
By Coin Metrics|2021-03-09T13:40:31+00:00March 9, 2021|Karim Helmy, Nate Maddrey, State of the Network|
The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work algorithm, Ethash, was explicitly designed to be resistant to ASIC mining and hence miner professionalization. Since then, the network’s migration to Proof of [...]
By Coin Metrics|2021-03-03T14:19:23+00:00March 2, 2021|Nate Maddrey, State of the Network|
The market took a downturn last week after bitcoin (BTC) reached as high as $58K. The stock market also sold off as the 10-year Treasury note yield had its highest one-month increase since 2016. As a result of the dual selloffs the [...]
By Coin Metrics|2021-02-23T13:20:38+00:00February 23, 2021|Karim Helmy, State of the Network|
Miners are often considered natural sellers of bitcoin (BTC). Their revenue is earned from block rewards and transaction fees which are paid out in BTC. But their costs, like electricity and rent, are paid using fiat currencies. Miners therefore need [...]
By Coin Metrics|2021-02-16T16:34:56+00:00February 16, 2021|Nate Maddrey, State of the Network|
Late last week BNY Mellon, the world’s largest custodian bank with over $2 trillion in assets under management, became the latest institution to announce support for digital currencies.
By Coin Metrics|2021-02-16T16:34:26+00:00February 9, 2021|Nate Maddrey, State of the Network|
Tesla announced a $1.5B purchase of bitcoin on Monday, less than two weeks after Elon Musk added #bitcoin to his Twitter bio. The large buy adds Tesla to the growing list of public companies buying and holding bitcoin (BTC) in their treasuries.
By Coin Metrics|2021-02-05T13:45:34+00:00February 2, 2021|Nate Maddrey, State of the Network|
The stock market was turned upside down last week. Retail investors organized on Reddit and took over, making a killing off of heavily shorted stocks like GME and AMC while major hedge funds lost billions.
