Introducing New EIP-1559, Miner Flow, and Payment Metrics
Last week Coin Metrics released a major update to our metric coverage including new EIP-1559 metrics, Ethereum miner flows, valuation ratios, and payment metrics. In this week’s State of the Network we do a deep dive into some of these [...]
Crypto’s August Rebound
After falling as low as $29.76K in July, bitcoin (BTC) price broke back above $50K on Monday. Data suggests that BTC is on the path to recovery after a market wide crash just three months ago.
JPEG Summer: Exploring The Data Behind the NFT Boom
Over the last two weeks NFT sales have exploded to levels well beyond the NFT boom seen in March. The number of sales on OpenSea, the largest NFT marketplace, reached a peak of over 60K per day over the last [...]
Analyzing EIP-1559’s ETH Burn
On Thursday, August 5th EIP-1559 went live as part of Ethereum’s London hard fork. Less than a week after the launch over 18K ETH has been burned, a total of about 32% of the total ETH that’s been issued post [...]
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 [...]