Data-driven research reports diving deep into foundational or novel topics in the digital assets ecosystem.
Trusted Exchange Framework 2.1
Centralized exchanges are pivotal in the crypto realm, but their quality varies across diverse use-cases. The Coin Metrics’ Trusted Exchange Framework aims to quantitatively evaluate these platforms based on criteria like transparency, resilience, data quality, and more, leveraging public information and unique insights from Coin Metrics’ extensive experience from collecting [...]
Recent
Exploring Supply Transparency
Coin Metrics and Swiss firm Bitcoin Suisse have collaborated to bring their expertise in crypto analytics and market insight to [...]
DeFi’s Double-Edged Sword
The 2022 collapse of FTX—a centralized crypto exchange, has highlighted the promise of Decentralized Finance (DeFi) platforms due to their [...]
Decoding the Digital Dollar
Stablecoins have quickly grown from a nascent segment of the digital assets ecosystem to a $100 billion+ market. Stablecoins already [...]
From Orange Groves to Orange Gold
How crypto assets are to be regulated in the United States is a contentious battleground with high stakes implications for [...]
The Signal & The Nonce
This paper introduces a methodology for determining the market share of every major Bitcoin mining machine, or ASIC, by analyzing [...]
Trusted Exchange Framework 2.0
Centralized exchanges are a vital part of the crypto ecosystem but vary widely in quality across several use-cases. In order [...]
Decoding Crypto Pricing
A price is one of the most basic data points of any functioning, active market. Digital assets are traded around [...]
What is MEV Anyway?
The concept of MEV has sparked a significant amount of interest and concern in the blockchain community, and this paper [...]
Monitoring DeFi Biggest Risk
This report covers one of the biggest risks in DeFi — the rise of a new development paradigm that introduces [...]
Recent Research
SOTM Oct 26-Nov 1, 2023
Welcome to our 145th issue of State of the Market, where we provide an overview of crypto market activity from October 26 - November 1, 2023. The Federal Reserve leaves interest rates unchanged at 5.25 - 5.50%, meeting investor expectations & spurring [...]
Unpacking the Forces Behind the Market Rally
In this issue of Coin Metrics’ State of the Network, we offer a data-driven market update, focusing on both spot and derivative markets to grasp the factors behind this rise and its wider implications for the digital asset ecosystem.
SOTM Oct 19-25, 2023
Welcome to our 144th issue of State of the Market, where we provide an overview of crypto market activity from October 19 - 25, 2023. BTC rallies to $35K after market analysts spot a preliminary listing of BlackRock's iShares Bitcoin Trust (IBTC) [...]