Transactions

Contents

• Tx Cnt

• Tx per Second Cnt

• Tx Mean Size

• OP_RETURN Tx Cnt

• Shielded Tx Cnt

• Fully Shielded Tx Cnt

• Transactions, count, vote

• Transactions, count, nonvote

Tx Cnt

Definition

The sum count of transactions that day. Transactions represent a bundle of intended actions to alter the ledger initiated by a user (human or machine). On certain occasions, transactions are counted regardless of whether they result in the transfer of native units or not. As long as such transactions are recorded on the chain, they will be included in the calculation of this metric. Changes to the ledger algorithmically mandated by the protocol, such as coinbase transactions or post-launch new issuance, are not included here.

Name	MetricID	Unit	Interval
Tx Cnt	TxCnt	Transactions	1 day, 1 hour

Details

• For UTXO chains, this metric doesn’t include coinbase transactions.

Asset Specific Details:

• For Solana, includes all successful and unsuccessful transactions, including vote transactions.

Chart

Source: Coin Metrics Network Data Chart

Release History

• Released in the 1.0 release of NDP

Availability for Assets

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Tx per Second Cnt

Definition

The sum count of transactions divided by the number of seconds that day.

Name	MetricID	Unit	Interval
Tx per Second Cnt	TxCntSec	Transactions per second	1 day

Details

• Computed as TxCnt / 86400

Asset Specific Details

• For Solana, includes vote transactions

Release History

• Released in the 1.0 release of NDP

Availability for Assets

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EIP1559 Tx Cnt

Definition

The sum count of transactions that have natively adopted EIP-1559 features by featuring a Base Fee and Miner Tip.

EIP1559 introduced a host of changes to Ethereum's fee mechanism. While this proposal was implemented as a hard fork, not all wallets have adopted this new transaction type upon activation.

Transactions that are EIP1559-compliant have two portions: a Miner Tip and a Base Fee. Miner Tips represent the portion of the total transaction fees that rewards miners. This serves as an optinal incentive mechanism for miners to prioritize transactions that have opted-in and paid a tip. Base Fees, on the other hand, are mandatory and represent the minimum amount needed to be paid for a transaction to be included in a block. After inclusion, the Base Fee is effectively taken out of circulation, and it is burnt (destroyed).

Name	MetricID	Unit	Interval
EIP1559 Tx Cnt	TxEIP1559Cnt	Transactions	1 day

Details

• EIP1559 was a highly anticipated proposal that changes how transaction fees are priced in Ethereum, as well as the dynamics of block sizes.

• The proposal activated on the Ethereum Network in August of 2021 and marks one of the biggest changes in monetary policy in the history of cryptoassets.

• Instead of the legacy gas price, 1559 splits transaction fees into two distinct fields: a Base Fee and an optional Tip (also known as a Priority Fee).

• This metric calculates the total number of native EIP-1559 transactions that have occurred in the network over the measuring period (e.g. 1 day).

• For a thorough review of EIP1559 and the design of its pricing mechanism, please refer to this paper.

Chart

157KB

Coin_Metrics_Network_Data_2022-09-14T15-07.png

image

Source: CM Network Data Charts

Interpretation

• Not all wallets have implemented EIP-1559 upon activation, so this metric serves as a proxy for the native adoption of this new transaction type.

• While all transactions must abide by EIP-1559 at the blockchain consensus layer (and at the very least carry a Base Fee), not all wallets have natively adopted this transaction fomat.

• This metric serves a proxy to measure the native adoption of EIP1559 by wallets across the network.

• The ratio of TxEIP1559Cnt and Tx Cnt provides a view of the adoption of 1559 natively, relative to all other transactiosn that have taken place in the network.

Release History

• Released in the 5.0 release of NDP (August, 2021)

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage

Tx Mean Size

Definition

The mean size (in bytes) per transaction for all transactions that interval.

Name	MetricID	Unit	Interval
Tx Mean Size	TxMeanByte	Bytes	1 day, 1 block

Details

• Computed as BlkSizeByte / TxCnt

Release History

• Released in the 1.0 release of NDP

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage

OP_RETURN Tx Cnt

Definition

The sum count of transactions in that interval that included at least one OP_RETURN output. OP_RETURN outputs are used to embed data into the blockchain database.

Name	MetricID	Unit	Interval
OP_RETURN Tx Cnt	TxOpRetCnt	Transactions	1 day

Details

• Coinbase (i.e., miner reward) transactions are not included.

• This metric is only available for Bitcoin and its forks/derivatives.

Release History

• Version 4.2 of CM Network Data Pro Daily Macro (End of Day)

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage

Shielded Tx Cnt

Definition

The sum count of transactions using opt-in privacy features that interval. All privacy related features are included (including fully shielding, shielding, deshielding or mixed transactions). Transactions represent a bundle of intended actions to alter the ledger initiated by a user (human or machine). Shielding a transaction hides some or all of the activity described by it to a blockchain observer.

Name	MetricID	Unit	Interval
Shielded Tx Cnt	TxShldCnt	Transactions	1 day

Details

• Transactions in assets with opt-in privacy features can be of several types:

  • Fully shielding: all senders and all recipients are unknown

  • Shielding: all senders are known, all recipients are unknown

  • Deshielding: all senders are unknown, all recipients are known

  • Mixed: some senders are unknown or/and some recipients are unknown

  • Transparent: all senders and recipients are known

• This metric includes all transaction types except transparent

Asset-Specific Details

• This metric is only available for assets that have opt-in privacy features like ZCash and its derivatives

Release History

• Version 4.5 of CM Network Data Pro Daily Macro (End of Day)

• Date Last Modified: 2019-01-10

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage

Fully Shielded Tx Cnt

Definition

The sum count of transactions using fully shielding privacy features that interval. Only fully shielding transactions are included (transactions with partial or mixed shielding are not included). Transactions represent a bundle of intended actions to alter the ledger initiated by a user (human or machine). Fully shielding a transaction hides all of the activity of a transaction (except for the miner fee it paid).

Name	MetricID	Unit	Interval
Fully Shielded Tx Cnt	TxShldFullCnt	Transactions	1 day

Details

• Transactions in assets with opt-in privacy features can be of several types:

  • Fully shielding: all senders and all recipients are unknown

  • Shielding: all senders are known, all recipients are unknown

  • Deshielding: all senders are unknown, all recipients are known

  • Mixed: some senders are unknown or/and some recipients are unknown

  • Transparent: all senders and recipients are known

• This metric includes all transaction types except transparent

Asset-Specific Details

• This metric is only available for assets that have opt-in privacy features like ZCash and its derivatives

Release History

• Version 4.5 of CM Network Data Pro Daily Macro (End of Day)

• Date Last Modified: 2019-01-10

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage

Transactions, count, vote

Definition

The sum count of non-voting transactions that interval on Solana. A subset of TxCnt.

Name	MetricID	Unit	Interval
Transactions, count, vote	TxCntVote	Transactions	1 day

Details

• For Solana, count of all transactions on the Solana network that are vote transactions. Does not include other transactions.

Release History

• Added as part of the first release of Solana metrics

Availability for Assets

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Transactions, count, nonvote

Definition

The sum count of non-voting transactions that interval on Solana. A subset of TxCnt.

Name	MetricID	Unit	Interval
Transactions, count, nonvote	TxCntNonvote	Transactions	1 day

Details

• For Solana, count of all transactions on the Solana network that are not vote transactions.

Release History

• Added as part of the first release of Solana metrics

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage

API Endpoints

Token Transaction metrics can be accessed using these endpoints:

• timeseries/asset-metrics

and by passing in the metric ID's TxCnt, TxCntSec etc. in the metrics parameter.

Error while loading OpenAPI operation — Invalid OpenAPI document

Shell

curl --compressed "https://api.coinmetrics.io/v4/timeseries/asset-metrics?metrics=TxCnt&assets=eth&pretty=true&api_key=<your_key>"

Python

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/asset-metrics?metrics=TxCnt&assets=eth&pretty=true&api_key=<your_key>').json()
print(response)

Python Client

from coinmetrics.api_client import CoinMetricsClient

api_key = "<API_KEY>"
client = CoinMetricsClient(api_key)

print(
    client.get_asset_metrics(
        metrics="TxCnt", 
        assets="eth",
    ).to_dataframe()
)