State of the Network turns three

State of the Network just turned three years old! Bitcoin, Ethereum, and the rest of the crypto ecosystem has grown a lot since our first issue.?

In a special edition to celebrate 3 years of State of the Network we’ve put together a collection of crypto data insights highlighting just how much things have changed since we released our first issue on?May 29th, 2019.

But first, we’re incredibly grateful for the more than 18,000 State of the Network readers today, some of whom have kindly shared their thoughts on SOTN with us.

Spencer Noon, Co-Founder of Variant and Creator of OurNetwork

“Congrats to SOTN on the 3-year anniversary! I’ve been a regular reader since the early days and have always appreciated your intense commitment to going as deep into the on-chain data as necessary in order to arrive at its fundamental truths. As a crypto community we are very lucky to have this caliber of research published for free and I would encourage anyone who calls themselves a data-driven investor to subscribe.”

David Hollerith, Reporter, Yahoo Finance

“State of the Network is a reasonable mix of market summary and data, no frills or promotions. A great way to get a quick pulse check on one of the fastest markets around.”

And now the insights!

• $100 invested in bitcoin (BTC) on May 29, 2019, when State of the Network first launched, would be worth $367 today.
• There’s been over $8 trillion worth of BTC transferred on-chain over the last 3 years (adjusted to remove self-sends and other non-economic transfers).
• Total BTC miner revenue was $5.2B in 2019, $5B in 2020, and $16.7B in 2021. All-time BTC miner revenue is $43B today.
• There are over 10M addresses that hold at least 0.01 BTC today, rising from 7.15M on 5/29/19, a growth of 2.85M addresses.

• $100 invested in ether (ETH) on May 29, 2019, when State of the Network first launched, would be worth $723 today.
• There have been 1.58B total ETH transactions to-date, 645M of which have involved tokens. About 1.13B transactions have occurred since May 29th, 2019.
• A total of $14.3B has been spent on ETH transaction fees all-time - about $14.06B of total ETH transaction fees have been spent in the last three years.

For more data insights and to see what other State of the Network readers had to say, be sure to check out the full issue!