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 index (Coin Metrics Bletchley Indexes) consists of the 10 largest cryptoassets weighted by their free float market-cap. ETH has led [...]
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. Bitcoin has been one of the best performing assets so far this year with a YTD return of ~110%, compared [...]
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 the $65K mark for the first time. The new highs followed on the heels of the successful launch of the [...]
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 bitcoin futures ETF in the US set to begin trading today on the New York Stock Exchange, on-chain data suggests [...]
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 paper in 2008. Although the crypto market is still in its relative youth, crypto market structure is rapidly evolving and developing [...]
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, 2021.
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 finance (DeFi). Powered by the proliferation of new tokens, composable DeFi protocols, and an ever-increasing user base, DEXes are gaining [...]
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 of the most vibrant sectors of the burgeoning cryptoeconomy. With thousands of different NFT projects and more launching every day, [...]
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 many unique users are behind the transacting addresses. A single Bitcoin or Ethereum address may be owned by many individuals, [...]
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 1st to over $52K on September 6th. Over the same period, ETH climbed from about $2.6K to over $3.9K, close [...]