CM Prices Overview
Coin Metrics publishes a collection of prices for a set of cryptocurrencies and fiat currencies consisting of the Coin Metrics Reference Rates ("CM Reference Rates") and the Coin Metrics Principal Market Prices ("CM Principal Market Prices"), which are collectively referred to as the Coin Metrics Prices ("CM Prices").
The CM Reference Rates represent the reference rate of one unit of the asset quoted in U.S. dollars or other currency.
The CM Reference Rates supports multiple frequencies. The daily and hourly frequencies utilize one calculation methodology and the minute, second, and 200 millisecond frequencies ("real-time frequencies") utilize a separate calculation methodology.
The CM Principal Market Price is the price of an asset quoted in U.S. dollars derived from the asset's principal market, the market with the most trading volume or activity.
We offer both the principal market price and the identity of the principal market in separate metrics below.
We also publish the CM Reference Rates to Pyth Network, an on-chain oracle that publishes financial market data to multiple blockchains. Now decentralized applications or off-chain applications needing a reliable pricing source via an on-chain oracle can consume our CM Reference Rates. For more information, please contact Coin Metrics through our website or at [email protected].
The CM Prices are collectively governed by policies described in Coin Metrics Prices Policies which describes the administration, oversight, conflicts of interest, material changes and terminations, recalculations, internal controls, complaints, record retention, and compliance policies.
The CM Prices are collectively governed by rules-based methodologies described in Coin Metrics Prices Methodology which describes our Market Selection Framework, a systematic method of producing a unique set of constituent markets for each asset, our data sources, calculation algorithm, and contingency rules.