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.

Measuring Crypto Usage and Adoption
Crypto usage can be tricky to measure. Although all transaction data is public, it can be difficult to tell how

Analyzing Tuesday’s Flash Crash
As summer came to a close the crypto markets came roaring back to life. BTC surged from $39.3K on August

Introducing New EIP-1559, Miner Flow, and Payment Metrics
Last week Coin Metrics released a major update to our metric coverage including new EIP-1559 metrics, Ethereum miner flows, valuation

Crypto’s August Rebound
After falling as low as $29.76K in July, bitcoin (BTC) price broke back above $50K on Monday. Data suggests that

JPEG Summer: Exploring The Data Behind the NFT Boom
Over the last two weeks NFT sales have exploded to levels well beyond the NFT boom seen in March. The

Analyzing EIP-1559’s ETH Burn
On Thursday, August 5th EIP-1559 went live as part of Ethereum’s London hard fork. Less than a week after the

Analyzing Tether and USDC Usage Patterns
The total supply of stablecoins is near 110B today, almost a 4x increase over the supply at the beginning of

Understanding Total Value Locked (TVL)
Decentralized Finance (DeFi) has become one of the industry’s most vibrant topics, with dozens of new projects launching on a

Crypto Google Search Trends Analysis
Google search data is often used to analyze a wide-variety of trends. Although a Google search doesn’t necessarily translate into

The State of the Network Q2 Wrap-Up
After a strong start to the year, the second-quarter of 2021 was headlined by a crypto-wide crash. But despite the

Ethereum Gas Update
Ethereum gas price has dropped down to its lowest levels since March, 2020. While a few months ago average gas price

Using On-Chain Indicators To Assess The Current Market Cycle
The crypto markets dropped again this past week after more news of Chinese regulation, including the PBOC telling the country’s major