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.

Searching Millions of SEC Filings for Crypto-Related Terms
The first ever mention of Bitcoin in a document filed with the U.S. Securities and Exchange Commission (SEC) was appropriately

Exploring OpenSea Analytics Using On-chain Data
Up until now, the data produced by websites and apps has typically been controlled by companies or organizations. Although some

Analyzing Recent On-Chain Trends in Stablecoin Activity
Stablecoins have become one of the most discussed categories within the crypto ecosystem, and for good reason: last year stablecoins settled

Crypto Follows Global Markets Lower to Start 2022
At the beginning of 2021, bitcoin (BTC), ether (ETH), and the broader crypto market were riding high buoyed by institutional

Trading Volume Reflects Geographic Shifts in Global Crypto Activity and Adoption
Crypto exchanges play a critical role in facilitating crypto adoption. Exchanges serve as the primary point of access to the

Helicopter Tokens: A New Look at the Data Behind Some of the Largest Airdrops on Ethereum
Airdrops have become a highly popular mechanism in the crypto ecosystem for allocating crypto assets to users. In general, an

Crypto’s Biggest Storylines Going Into 2022
After a transformative 2021 marked by new all-time highs for most of the major cryptoassets and key on-chain metrics, expectations are high

The Best of State of the Network in 2021
In this special edition of State of the Network, we look back at some of the best issues in 2021. This year,

The State Of The Network 2021 Year In Review
In this special edition of State of the Network we look back at crypto’s biggest storylines of 2021. To explore the data

Introducing Coin Metrics’ Bitcoin Wallet Metrics
One of Coin Metrics’ goals is to determine the economic significance of public blockchains. We try to achieve this by

Comparing Returns Across the Major ERC-20 Tokens
One of the primary use cases of Ethereum and other smart contract platforms is the creation of digital tokens. Tokens

Explaining Some of Crypto’s Biggest Data Anomalies
The history of economics and finance is filled with examples of data oddities and irregularities. Numerous economic time series are