Navigating the Avalanche: An Introduction to the Avalanche Network
In this week’s issue of Coin Metrics’ State of the Network, we navigate Avalanche’s role in the digital asset ecosystem. We’ll explore its unique features and highlight the state of the Avalanche network through an array of metrics illuminating adoption and usage [...]
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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 by which to calculate indexes and funding payments, and documentation in this space is generally difficult to follow. While these [...]
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 whether reported volume numbers are accurate or exaggerated. At Coin Metrics we’ve taken a data driven approach to the problem [...]
Analyzing The Early Uses of Bitcoin
Since its inception in 2009, Bitcoin triggered many discussions around its raison d’être. Conflicts between different points of view of what Bitcoin is and should be spanned years and tore many communities apart. Hasufly and Nic Carter cataloged the many different [...]
The Rise of Stablecoins
Stablecoin supply has exploded in 2020 but it’s unclear exactly why. After it took 5 years for stablecoin supply to reach 6 billion, it only took another 4 months for it to grow from 6 billion to 12 billion following [...]
When Markets Misalign: Mispricings and Reference Rates
Price discrepancies between exchanges can emerge for a variety of reasons, including market manipulation, exchange downtime, and trader error. These dislocations are aggravated by market inefficiencies that may prevent arbitrage. While market dislocations are particularly common for small exchanges and [...]
Introducing Free Float Supply
Until now, a standardized approach to determining the free float supply (the supply that is available to the market) of cryptoassets has not been established. This has hindered the market from developing a clear understanding of available supply and market [...]
Digital Alchemy: Do Coinbase Listings Turn Altcoins Into Gold?
A Coinbase listing has historically shown, not surprisingly, to have a positive impact on listed assets’ prices immediately following the announcement. The uplift from a listing is more muted than some may perceive, with the average and median uplift ranging [...]
Assessing Crypto’s Recovery Three Months After The March 12th Crash
Bitcoin (BTC) and Ether (ETH) have recovered most of their losses after the March 12th crash, while assets like Bitcoin Cash (BCH) and Litecoin (LTC) have lagged behind. Other assets that have outperformed include Cardano (ADA), Crypto.com Coin (CRO), and [...]
Analyzing Stablecoin Supply and Activity Distribution
The supply and activity distribution of a stablecoin can help us understand how it is used. The ERC-20 variant of Tether shines as being particularly well distributed amongst its holders. Meanwhile, 6 accounts or less own 80+% of the supply [...]