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 2021. But this growth has not been distributed equally across stablecoins. Amidst an uncertain crypto market, the stablecoin market is [...]
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 monthly basis. DeFi applications essentially enable the creation of financial contracts that are automatically executed. Broadly speaking, these contracts facilitate [...]
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 a crypto purchase, analyzing search data for crypto-related keywords can help shed light on retail interest in a variety of [...]
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 crash, many assets finished the quarter in the green. In this special edition of State of the Network we take [...]
Ethereum Gas Update
Ethereum gas price has dropped down to its lowest levels since March, 2020. While a few months ago average gas price regularly reached 150-200 GWEI, average gas price has decreased to the 15-30 GWEI range since the end of May. Although [...]
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 financial institutions to stop facilitating cryptocurrency transactions, and a Huobi derivatives ban. The markets have now been in decline for almost [...]
Analyzing Bitcoin Dominance and the Altcoin Boom
Weekly Research Focus Analyzing Bitcoin Dominance and the Altcoin Boom By Nate Maddrey and the Coin Metrics Team Bitcoin dominance dropped to under 40% on May 18th, just days before bitcoin (BTC) price crashed to its lowest levels since January. Bitcoin dominance is a [...]
Bitcoin Becomes Legal Tender
On June 9th the El Salvador congress passed a bill officially making bitcoin (BTC) legal tender. A pivotal moment for bitcoin and crypto at large, El Salvador is now the first country to recognize BTC as a satisfactory form of payment [...]
Trading Volume Trends
Over the last month, ether (ETH) trading volume has caught up with bitcoin (BTC) volume on Binance, the largest exchange in the world. While BTC led by a fairly large margin in the beginning of the year ETH volume took [...]
Stability After The Crash
The crypto market has been tested over the last few weeks following a cascade of negative news. The resulting price crash has also been a big test for stablecoins, which are increasingly becoming a critical part of the ecosystem. On May 19th [...]