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.

State of the Network’s Q1 2023 Mining Data Special
In our 200th issue of State of the Network, we share a special report on Bitcoin Mining Data for Q1

An Introduction to Liquid Staking
In this issue of State of the Network, we discuss the need for liquid staking — which allows users to

An Introduction to Liquid Staking
In this issue of State of the Network, we discuss the need for liquid staking — which allows users to

FDIC Takeover of Silicon Valley Bank: Assessing the Impact on Stablecoins
Silicon Valley Bank (SIVB) was taken over by the FDIC on Friday morning following a bank run that drained their

Decentralized Exchanges Four Months After FTX
Using data from Coin Metrics’ DEX data feed, we examine the underlying activity on Uniswap and Sushiswap to understand usage

Decoding Crypto Pricing: Insights for Institutional Investors
In this report, we aim to compare and contrast Coin Metrics’ two independent pricing methodologies, elucidate their underlying accounting rationale,

Dancing with the Regulator: Stablecoin Data in the Wake of New Regulatory Action
In this State of the Network, we examine stablecoin data following the recent regulatory developments surrounding the Binance USD (BUSD)

No Ordinary Number: Exploring Bitcoin Ordinal NFTs
In this State of the Network, we dig into the data behind an emergent use case for Bitcoin blockspace.

DeFi & Real World Assets: An Introduction to Goldfinch Finance
A crucial step in the evolution of DeFi is its intersection with Real-World-Assets (RWAs). In this issue of State of the Network, we

What is MEV anyway?
MEV was never an element of the design of Ethereum—instead, it was an emergent phenomenon, and one that surprised everyone

Monitoring the Currents of the Crypto Market
The digital asset market is experiencing a surge in activity as we kick off the new year. Bitcoin is up

Bitcoin Supply Trends
In the aftermath of last year’s market downturn and eventful year in the digital assets space, what are some observations