Reviewing the Liquidity Landscape
In this edition of State of the Network, we zoom in on essential trading volume and market data trends to contextualize the current market environment for digital asset participants.
SOTM May 4-10, 2023
On-chain activity is shattering records as Bitcoin and Ethereum experience a torrent of token trading. Despite the memecoin's apparent lack of utility, the Pepecoin (PEPE) ERC-20 captured a market cap of nearly $1.6B, though the asset since surrendered 50% of [...]
Bidding on Bytes: A Bitcoin & Ethereum Fee Market Update
In this week’s issue of State of the Network, we delve into the data behind the latest fee market frenzy that has simultaneously engulfed both the Ethereum and Bitcoin networks.
SOTM April 27-May 3, 2023
First Republic has joined the ranks of failed regional banks, beating SVB's breakdown to become the 2nd-largest banking collapse in U.S. history. The FDIC seized control of First Republic over the weekend after the bank failed to rally enthusiasm for [...]
Maker’s Dai Dilemma
Maker is one of the oldest DeFi protocols and the creator of Dai—the largest crypto-backed stablecoin by market capitalization ($4.7 Billion). But today, Maker is facing a major dilemma: how can the DAO achieve stability and decentralization of Dai?
SOTM April 20-26, 2023
After months of being taken to court, crypto firms are finally going on the offensive. Following their acquisition of a license to operate in Bermuda last week, Coinbase kicked off Monday by suing the SEC, petitioning that the regulator be [...]
State of the Network Foundations: Blockchain Addresses
Today we are debuting a new State of the Network series entitled Foundations. This new series will present various “technical” aspects of blockchain technology in an approachable way along with relevant data. In this week’s issue, we start with the concept [...]
SOTM April 13-19, 2023
For five hours on Tuesday, Congress grilled Gary Gensler. The SEC chair faced a fierce scolding from many members of the House Financial Services Committee, though Rep. Maxine Waters (D-Calif.) applauded Gensler for his forceful actions in going after "crypto [...]
Reviewing Ethereum’s Shapella Upgrade
In this week’s State of the Network, we analyze the network impacts and economic ramifications of the Shapella upgrade through the data we have observed in the days after its activation.