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 2019 Year in Review
In this special edition of State of the Network (SOTN) we take a look back at how the major cryptoassets

Revisiting the Block Reward Halving Theory
The upcoming block reward halving for Bitcoin, anticipated in May 2020, has already given rise to intense discussion about its

Ranking Crypto Assets by Auditability
In Medieval times, landed estates’ accounts were read out loud to a person charged by the local ruler to ensure

Analyzing the Supply Distributions of Projects with On-Chain Governance
It takes a whole network of people to make a public blockchain work. You need miners to validate and secure

The Psychology of Bitcoin Bubbles as Measured by Investor Cost Basis
Bubbles and subsequent crashes in financial assets occur with regular frequency in economic history, largely due to deeply-rooted cognitive biases

Weekly Network Data Insights
Crypto markets took a significant downturn towards the tail end of last week, with BTC price dropping to six-month

How Many Bitcoins Are Permanently Lost?
Bitcoin’s whitepaper, which recently turned 11 years old, is so concise that it makes only a passing mention of supply:

The Evolution of Ethereum Tokens
In 2015, Ethereum ushered in a new era for blockchains: the age of the token. Broadly defined, a “token” represents

Macroeconomic Indicators for the Crypto-Economy
Just like a nation state’s economy has economic concepts (such as gross domestic product, inflation, and unemployment), a crypto asset

The Signal and the Nonce: Hunting for ASICs in Nonce Distributions
The Great ASIC Debate. Since the early days of Bitcoin, the community has argued about whether to fight against increasingly powerful mining

Bitfinex Market Share is Declining
Bitfinex, the controversial Hong Kong based exchange at the heart of ongoing investigations against Tether, has been one of the biggest

BTC Is Close to $1B of All-time Fees, But Fee Growth is Slowing
BTC is close to eclipsing $1 billion of cumulative, all-time transaction fees. As of October 13th, there have been $996,458,718