Category: Macro Analysis

Current state of DeFi in 2021: Part 1

Current state of DeFi in 2021: Part 1

Quick Take This is a section from The Block Research’s upcoming 2022 Digital Assets Outlook report Maker was the largest lending platform by value locked and outstanding debt Curve and Uniswap v3 were the largest decentralized exchanges by value locked and volume, respectively dYdX outpaced other derivatives protocols in volume after the introduction of its […]

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October by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

October by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

Quick Take Most metrics increased in October. Total adjusted on-chain volume increased by 24% to $856 billion. Ethereum miners generated a new all-time high of $2.95 billion in revenue. A total of 302,755 Ethereum, equivalent to $1.17 billion, was burned in October. Centralized exchange spot trading volumes increased by 3.8% to $1.294 trillion. This research […]

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September by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

September by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

Quick Take Most metrics continued to recover in September. Ethereum metrics generally exhibited a higher beta. Total adjusted on-chain volume increased by 33% to $691.7 billion. Stablecoin supply grew slightly by 6.6% to a new all-time high of $120.5 billion. Centralized exchange spot trading volumes increased by 13.6% to $1.247 trillion. This research piece is […]

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August by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

August by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

Quick Take Most metrics rebounded sharply in August. Ethereum metrics exhibited a higher beta. Notably, the strong rebound in Ethereum on-chain metrics was greatly aided by the NFT craze. Total adjusted on-chain volume increased by 28.4% to $520.2 billion. Stablecoin supply grew slightly by 2.6% to a new all-time high of $113 billion. Centralized exchange […]

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The Block Research January Analyst Call | Full Video

Each month The Block Research hosts an analyst call reviewing the most important topics from the month prior. You can register for future analyst calls here. This month Lars Hoffmann takes takes macro look at the month of January. Ryan Todd shares insights from MicroStrategy’s historic Bitcoin Summit, and Mika Honkasalo discusses his latest research, Cosmos IBC […]

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2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part III

2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part III

Quick Take The following is the final excerpt from the ‘2020 Macro Overview’ section of the Block Research’s forthcoming year-end report. We examine both digital and traditional asset market performance, the labor market, real gross domestic product, monetary policy, and more economic data throughout the last three quarters of 2020.  This research piece is available […]

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