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 Foundations: Hashes
In this week’s State of the Network we return with our Foundations series, which presents various “technical” aspects of blockchain technology in an approachable

The Signal & the Nonce, Reimagined
Adopting a new methodology, we present novel data to rethink some of Bitcoin’s most pressing issues including electricity consumption, miner

Token Unlocks & Free Float Supply Shocks in Digital Asset Markets
In this issue of Coin Metrics’ State of the Network, we analyze the mechanism of token unlocks, where early investors

Zooming Out: A datonomy Update
In this issue of Coin Metrics’ State of the Network, we leverage datonomy—a classification system for digital assets to zoom

A Claim in the Ether: Tracking the Soaring Demand for Ethereum Staking
The queue to become an Ethereum validator is rising to new heights. In this edition of State of the Network,

Reviewing the Liquidity Landscape
In this edition of State of the Network, we zoom in on essential trading volume and market data trends to contextualize

Bidding on Bytes: A Bitcoin & Ethereum Fee Market Update
In this week’s issue of State of the Network, we delve into the data behind the latest fee market frenzy that

Maker’s Dai Dilemma
Maker is one of the oldest DeFi protocols and the creator of Dai—the largest crypto-backed stablecoin by market capitalization ($4.7

State of the Network Foundations: Blockchain Addresses
Today we are debuting a new State of the Network series entitled Foundations. This new series will present various “technical” aspects

Reviewing Ethereum’s Shapella Upgrade
In this week’s State of the Network, we analyze the network impacts and economic ramifications of the Shapella upgrade through the

The Shanghai Redemption: Ethereum’s Latest Upgrade
In this issue of the State of The Network, we will be covering the Ethereum “Shapella” upgrade, the latest milestone in the ongoing

State of the Network’s Q1 2023 Wrap-Up
In this special edition of State of the Network, we take a data-driven look at the most important events that impacted