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Coin Metrics' State of the Network

State of the Network is an unbiased, weekly report informed by Coin Metrics’ own network (on-chain) and market data and is an essential resource for professionals and enthusiasts seeking to stay up-to-date on the latest trends and most important developments within the digital assets industry.


Ethereum’s Successful Entry into the post-Merge Era

September 15, 2022|Kyle Waters, Matias Andrade, Nate Maddrey, State of the Network|

At 2:43 AM Eastern Time at block 15537393, Ethereum’s Proof-of-Work era came to an end, ushering in a new age of Proof-of-Stake Ethereum. In this special update, we share what we saw on the ground at the time of The [...]

Ethereum’s Bellatrix Upgrade Goes Live in Final Preparation for The Merge

September 8, 2022|Kyle Waters, Matias Andrade, State of the Network|

Ethereum moved one step closer to The Merge Tuesday with the activation of Bellatrix, a network upgrade to Ethereum’s Consensus Layer (CL), also known as the Beacon Chain. This upgrade prepares the CL to include Ethereum users’ transactions from the Execution [...]

Mapping Out The Merge

August 30, 2022|Kyle Waters, Lucas Nuzzi, Matias Andrade, Nate Maddrey, State of the Network|

As part of Coin Metrics' support for Ethereum’s major network upgrade, we are excited to be releasing a new data-driven research report explaining the essential features of The Merge and its implications for the future of Ethereum’s security, economics, and [...]

Mapping Account-based Blockchain Data to Virtual UTXOs

August 16, 2022|State of the Network|

At its core, cryptocurrency utilizes complete transparency to help create trust between anonymous users. In comparison to traditional finance, analyzing on-chain data provides an enormous advantage in metric creation. Some blockchains like Bitcoin use something called an unspent transaction output [...]

Exploring the Time-Based Patterns of Blockchain Activity

July 26, 2022|Kyle Waters, Matias Andrade, Nate Maddrey, State of the Network|

Blockchains are well known for offering a degree of pseudo-anonymity to transactors. But even though individual transactions might not be all that revealing, the collective behavior of blockchain users can be informative in understanding broader usage patterns. One example of this [...]

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