State of the Network’s Q1 2024 Wrap-Up
In this special edition of State of the Network, we take a data-driven look at the most important events that impacted the digital assets industry in Q1 2024.
Recent
Circle’s Silver Lining: Unpacking USDC’s Supply Drop in an Era of Rising Rates
In this issue of State of the Network, we set out to analyze USDC's supply loss and its impact on Circle. We segment the current USDC supply into various categories to pinpoint where the attrition is most pronounced. The pressing question [...]
State of the Network’s Q3 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 the digital assets industry from Q3 2023.
State of the Network’s Q3 2023 Mining Data Special
In this week’s State of the Network, we return with our quarterly mining data special, where we provide a close examination of the current Bitcoin mining landscape through the lens of Coin Metrics’ data.
A Glimpse into Coinbase through Coin Metrics’ Data
Through the lens of Coin Metrics, a wealth of market and on-chain data allows us to build new insights into Coinbase's market stance. In this week’s issue of State of the Network, we highlight pivotal data underscoring Coinbase's current market position.
One Year Since The Merge
In this issue of the State of the Network, we revisit the predictions we made about Ethereum’s now-defunct mining operations, take a look at critical network data to help us understand how Ethereum’s PoS ecosystem continues to evolve, and consider new directions and [...]
Evaluating the Market Quality of DeFi Collateral
In this issue of State of the Network, we use a combination of Coin Metrics’ Network Data (DeFi Balance Sheets) and Market Data to assess predominant forms of collateral in DeFi, examining their unique risk characteristics to understand what makes [...]
Exploring Common Ownership Patterns Across Major Stablecoins on Ethereum
In this issue of State of the Network, we explore common ownership patterns across major stablecoins on Ethereum using on-chain data from Coin Metrics’ ATLAS. Using a data visualization called an "UpSet" plot, we answer questions like "How many wallets hold [...]
Beauty in Predictability: Understanding the Bitcoin Halving Cycle
In this issue of State of the Network, we give an overview of the concept of halvings, their implications, and examine some data in the current halving epoch as Bitcoin approaches its 4th halving next spring.
From East to West: the Global Pulse of Stablecoin Transactions
In this report, we share a new data-driven approach to estimate the geographical preference around stablecoins.
Special Insights
Monitoring DeFi Biggest Risk
This report covers one of the biggest risks in DeFi — the rise of a new development paradigm that introduces single points of failure to many DeFi applications. We begin by examining DeFi’s potential to change how financial products are [...]
Mapping out The Merge
After years of research and development, The Merge will transition Ethereum to Proof of Stake fundamentally changing the network’s security and economics, and realizing the most significant upgrade since its 2015 launch.
On-Chain Volume
Public blockchains are settling more value than ever before. But calculating on-chain transfer volume is a non-trivial exercise. Raw data is rife with noise and opportunity for misinterpretation. To create better estimates, Coin Metrics implements a series of rules or [...]