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Exploring Supply Transparency

By Coin Metrics ⨉ Bitcoin Suisse

Read the report.

In an industry as dynamic and boundary-defying as digital assets, the confluence of two leading research teams—each hailing from a different corner of the globe, just like how decentralized networks operate—marks an occasion for both celebration and intellectual intrigue. This partnership between an institutional focused U.S.-based crypto analytics firm, Coin Metrics, and Bitcoin Suisse, a Swiss stalwart deeply embedded in the innovative spirit of Crypto Valley, manifests the borderless nature of digital assets, affirming them as a truly global asset class.

Our collaboration is one that draws upon our respective strengths; the data-driven approach of Coin Metrics meshes harmoniously with the market acumen and decade-long historical perspective provided by Bitcoin Suisse. With Bitcoin Suisse steering the research outline, conceptual framework, and token selection, and Coin Metrics providing high-caliber datasets and metrics, we have turned our collective attention to a topic of increasing relevance: token supply transparency and its relationship to liquidity.

For the first time in financial history, the transparent architecture of public blockchains allows us to track the flow of funds between crypto wallets in real-time, offering unprecedented insights into supply dynamics and liquidity at multiple dimensions and granularities. What follows is the fruit of this synergistic endeavor; we trust you will find it as enlightening as we found the process of its creation.

Highlighting Supply Liquidity

One of the key insights explored in this report centers on the insights provided by Coin Metrics Free Float Supply metric, which can be used to understand the proportion of an asset’s liquid supply. We apply this framework to offer insights on how a bullish catalyst can manifest across various digital assets, determining the comparative advantage of assets based on their supply liquidity.

Source: Coin Metrics Network Data & Bitcoin Suisse

The partnership between Coin Metrics and Bitcoin Suisse marks a significant step forward in enhancing our understanding of the digital assets space. This research provides insights into the relationship between token supply transparency and liquidity, a topic of paramount importance to the evolving dynamics of the cryptocurrency market.

If you would like to read the full report you can find it here.

Network Data Insights

Summary Metrics

Source: Coin Metrics Network Data Pro

Bitcoin's active addresses held steady at 9M, while Ethereum experienced a 24% surge in active addresses, both against a backdrop of relatively flat prices. The on-chain activity for Bitcoin, as highlighted by its daily transfers, saw a 7% reduction, while daily transfers for Ethereum increased by 10%.

Coin Metrics Updates

This week’s updates from the Coin Metrics team:

• Check out the latest issue of Coin Metrics’ State of the Market for more market data on Coinbase and other exchanges.

• Explore the digital assets ecosystem through our entire catalog of original data-driven research.

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Coin Metrics’ State of the Network, is an unbiased, weekly view of the crypto market informed by our own network (on-chain) and market data.

© 2023 Coin Metrics Inc. All rights reserved. Redistribution is not permitted without consent. This newsletter does not constitute investment advice and is for informational purposes only and you should not make an investment decision on the basis of this information. The newsletter is provided “as is” and Coin Metrics will not be liable for any loss or damage resulting from information obtained from the newsletter.