📣New State of the Network: Is Bitcoin Decoupling from the Market? Is Bitcoin truly uncoupling from traditional markets? In this week’s CoinMetrics.io State of the Network, Tanay Ved 🌊 and Victor Ramirez Victor Ramirez dig into how $BTC’s behavior is evolving across market regimes

Past periods where bitcoin was uncorrelated with the S&P500 and gold: - Late 2023-early 2024 (lead up to ETF approval) - Tail end of 2021 bull run

Some thoughts on the discussion around Ethereum’s L1 <—> L2 relationship 👇

📣New State of the Network: The After-Effects of Ethereum’s Pectra Upgrade Ethereum’s Pectra hard fork went live on May 7 - and it’s already reshaping both staking dynamics and Layer-2 scaling. In this week’s CoinMetrics.io State of the Network, Research Analyst Tanay Ved 🌊 dives

In the end, Alcaraz made Sinner his dinner. with these two, tennis fans going to eat for years to come. what an epic #FrenchOpen final.

sophisticated market participants

📣 New State of the Network: Circle Goes Public: $CRCL Valuation & the Economics of $USDC In @Coinmetrics' latest State of the Network report, Tanay Ved 🌊 dives into @Circle’s explosive NYSE debut and its long-term prospects as a stablecoin powerhouse. Key takeaways: - Circle’s

Visualizing the flow of interest income from USDC to Circle and Coinbase: - $1.66B total interest income (2024) - $CRCL retained $768M in net income from USDC - $907M paid to $COIN as revenue share - $114M paid out in USDC rewards → $794M retained

📣 New State of the Network: Q2 2025 Crypto Market Wrap-Up In CoinMetrics.io' latest State of the Network report, Tanay Ved 🌊 provides a data-driven review of Q2 2025, highlighting the trends, technologies, and macro shifts reshaping digital asset markets. Read the full report

Stablecoins are going to increasingly be viewed as a matter of strategic importance for the US and its debt situation. Govt is going to keep issuing shorter duration debt and stablecoins will play a growing role in absorbing that supply.

JUST IN: Layer 1s Part 1 | OurNetwork #354 🦄 Ethereum | Tanay Ved 🌊 🔺 Avalanche🔺 | yasmin 💧 Sui | Biff Buster 🌐 Aptos | haley | aptos🌐 🟢 Plasma | @seouldatalabs 🏎️ Sei | Saad ($/acc) Link to read 🔽 ournetwork.xyz/p/on-354-layer…

Oh so you like stablecoins? Name every USD-backed one Coinbase’s relationship with Circle and Circle’s fee-less redemptions are great drivers of adoption to look out for as we watch USDC grow across chains. Report should also help with $CRCL valuation models

📣 New State of the Network: The Flows Behind the Crypto Market’s Rise to $4T In CoinMetrics.io' latest State of the Network, Tanay Ved 🌊 breaks down the structural forces and capital flows fueling crypto’s surge toward a $4T market cap - anchored by institutional demand, regulatory

the best CEXes are doing more onchain and the best DEXes are doing more offchain

📣New Coin Metrics Vertical Analysis: Layer-1s In our latest research, Tanay Ved 🌊, Cooper Duschang, and the CoinMetrics.io team break down how Layer-1 (L1) blockchains power crypto - from their evolving architectures to usage and token value dynamics. Key Takeaways: - The evolution