Coin Metrics

Take the Quiz: State of the Network #257 >> https://lnkd.in/eq3BbVqW

This week, our highlighted keyword for State of the Network #257 is: Wash Trading. In case you missed it, you can find our latest edition and learn more about Wash Trading here >> https://lnkd.in/eq3BbVqW #FutureofFinance #PutTruthtoWork

Really enjoyed yesterday's digital asset focused day at the AIM Summit in London

The Coin Metrics’ Trusted Exchange Framework (version 2.2), aims to quantitatively evaluate centralized exchange platforms based on criteria like transparency, resilience, data quality, and more, leveraging public information and unique insights from Coin Metrics’ extensive experience from collecting data from crypto exchanges. Download the findings here: https://lnkd.in/eXeF6FFM #PutTruthtoWork #TheFutureofFinance 

Key Takeaways from Coin Metrics’ State of the Network #257: • Coin Metrics' Trusted Exchange Framework ranks centralized exchanges based on factors like data quality, transparency, resilience and more, providing a holistic assessment of exchange quality. • Legitimate exchanges skew towards consecutive buys/sells as informed traders react to new information, while suspicious exchanges display a more random distribution of buy/sell orders, resembling a coin-toss. • Exchanges with authentic trading activity, such as Binance and Coinbase, exhibit strong volume correlations during market events like the Bitcoin Spot ETF launch, while ill-behaved exchanges like Upbit show uncorrelated volume spikes. • Lead-lag analysis using the Hayashi-Yoshida estimator reveals asymmetries in price discovery across exchanges, with Upbit's BTC-USDT market lagging behind Binance's prices by an average of 13.9 seconds, while exchanges like Coinbase and Gemini show no pricing lags. • Trusted crypto trading volume, derived by filtering out suspected fake volume, stood at around $40B (7-day average) as of April 26th 2024, about half of the $80B peak seen in March this year. Read it all here: https://lnkd.in/eq3BbVqW 

Thought provoking chart from Coin Metrics on their centralized exchange rankings. I’ve a few thoughts on the ‘API Quality’ grades, but overall it’s a great framework for those building to the centralized crypto ecosystem. See the full data set here: https://lnkd.in/grytmVc5

In this issue of Coin Metrics’ State of the Network, we’ll delve into how we assess exchange quality. As the use-case for crypto data has expanded, the importance of precise, high quality data has been further emphasized. Coin Metrics created the Trusted Exchange Framework to vet which exchanges should be included to calculate precise market metrics as well as select the highest quality constituents for indexes. Read it all here: https://lnkd.in/eq3BbVqW #PutTruthtoWork #TheFutureofFinance 

This week in crypto markets: • After mining the Halving block late Friday, mining pool ViaBTC auctions off the collectible 'Epic Sat,' fetching a winning bid of 33.3 BTC (~$2.1M) • Bitcoin gets 5 new Bitcoin Improvement Proposal (BIP) editors, and several proposed upgrades like OP_CAT & OP_TXHASH receive recognition • Samourai Wallet co-founders Keonne Rodriguez & William Hill face money laundering charges, accused of facilitating $2B in unlawful transactions See the full in #StateoftheMarket: https://lnkd.in/ebZwhEAv #FutureofFinance #PutTruthtoWork

💡 Curious to understand more about Layer 1s and their On-chain impacts - Take a read of our most recent Coin Metrics State of the Network. Here are some Highlights: ▶ Speed vs. Security: Solana boasts the fastest block times (0.4 seconds) prioritizing throughput, while Bitcoin prioritizes security with 10-minute blocks. ▶ Transaction Fees: Despite recent congestion spikes, Solana maintains the lowest average fees (~$0.01). Bitcoin fees peaked at $124 during the fourth halving but have settled around $25. ▶ Network Activity: While Bitcoin and Ethereum active addresses hold steady, Solana's unique wallets surged to 1.2M in March, indicating a rise in activity! ▶ Stablecoin Adoption: Major stablecoins are gaining traction across layer-1s. Tron leads in USDT usage, while Solana boasts the lowest median transfer values for USDC & USDT. This report offers a deeper dive into on-chain data to understand these trends. Head over to the full report for a comprehensive analysis! And subscribe for weekly insights: stateofthe.network #blockchain #cryptocurrency #research #solana #bitcoin #ethereum #stablecoins

We are looking forward to attending AIM Summit in London next week! Connect with EMEA Head of Sales, Jeanette Gospage to let her know you will be attending. #FutureofFinance #PutTruthtoWork