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.

Do Ethereum Gas Fees Vary by Time and Day of Week?
With network activity rising and ETH’s price above $4K, twenty-two days into November there has yet to be a day with

Bitcoin & CPI Hit New Highs
Bitcoin price jumped to a new all-time high of $68,998 on November 10th after Consumer Price Index (CPI) data showed inflation

Bitcoin & CPI Hit New Highs
Bitcoin price jumped to a new all-time high of $68,998 on November 10th after Consumer Price Index (CPI) data showed inflation

Smart Contract Platforms Lead the Market to New All-Time Highs
The Coin Metrics CMBI10 index hit new all-time highs this past week as bullishness picks up across the market. The CMBI10

Revisiting the Myth of Bitcoin Ownership Concentration
With the price of bitcoin floating around an all-time high, almost all holders of bitcoin today are in the green.

Unpacking the data behind bitcoin’s new all-time high and inaugural ETF launch
After a 189-day gap between its last all-time high, bitcoin’s price soared to new heights on October 20th, breaking above

Bitcoin Bullishness Returns As ETF Launches
On Friday October 15th BTC broke above $60K for the first time since April of this year. With the first

Are BTC and ETH Spot Markets Maturing? Assessing the Health of Crypto Market Structure Using Order Book Data
In just a little over two weeks, October 31st will mark the 13th anniversary of the release of the Bitcoin white

The State of the Network Q3 2021 Wrap-Up
In this special edition of State of the Network we take a data-driven look at crypto’s biggest storylines of Q3,

The State of the Network Q3 2021 Wrap-Up
In this special edition of State of the Network we take a data-driven look at crypto’s biggest storylines of Q3,

Digging into Uniswap DEX Data
Decentralized exchanges (DEXes) have quickly emerged as essential systems to trade crypto assets in the rapidly innovating sector of decentralized

The Rise of NFTs: A Data-Driven Overview of Non-Fungible Tokens
The following is adapted from an in-depth, data-driven research report covering the rise of NFTs (https://coinmetrics.io/the-rise-of-nfts/). NFTs have become one