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.

Analyzing the Fallout from the BitMEX Lawsuits
On October 1st, the CFTC and Department of Justice jointly announced charges filed against BitMEX’s owners and operators. The CFTC is

Introducing the CMBI Multi Asset Series
In this week’s State of the Network we are excited to announce the release of the CMBI Multi Asset Series, the

How DeFi Is Fueling Ethereum’s Growth
Decentralized finance reached new heights over the last few months as dozens of projects launched and large amounts of capital

Bitcoin: A Novel Economic Institution
Below is an excerpt of a research report authored by ARK Invest and Coin Metrics. In Part 1 of this research, we described how

Measuring Bitcoin’s Decentralization
Over the last eleven years, Bitcoin has managed to function relatively seamlessly in the face of a large number of

An Overview of the Basis Trade
One of the most popular trades for any commodity futures is the basis trade. This is when traders build a

The Privacy Issue
The early 1990’s saw the dissemination of two great forces that would come to shape the next decades: the Internet,

The Business Trends of Crypto Exchanges
State of the Network has predominantly focused on the network and market data happenings of the crypto industry. In this

How YAM’s Collapse Drove Ethereum Fees to New Heights
On August 12th Ethereum’s total daily transactions fees topped $6.87M, shattering the previous all-time high of $4.55M set in January

Introducing the Coin Metrics Quarterly Supply Transparency Report
Part of Coin Metrics’ mission is to provide the community with transparent cryptoasset market and network data that allows investors

Surveying the Bitcoin Perpetual Swap Market
The crypto market is still young and the contract structure of derivatives varies across exchanges. Derivatives lack a standard methodology

Introducing Coin Metrics’ Trusted Volume Framework
Fake trading volume is a persistent problem on crypto exchanges. With little regulatory oversight, it can be difficult to determine