Today, we’re launching Methodologies, a new feature on Token Terminal that documents every calculation step between raw blockchain data and standardized financial and usage metrics.

Launching methodologies

During Q4, we’re rolling out Queries — a SQL interface designed to complement and extend our existing no-code analytics tools.

Expanding the frontier of onchain analytics

Through this collaboration, Token Terminal will provide onchain data to Alea Research and support their platform and research reports with standardized and institutional-grade onchain data.

Token Terminal x Alea Research: A partnership to advance the quality and distribution of onchain data & research

Through its partnership with Token Terminal, Ether.fi turns transparency into a competitive advantage and continues to build trust with its growing community.

Customer stories: Token Terminal’s Data Partnership with Ether.fi

Through its partnership with Token Terminal, Pendle turns transparency into a competitive advantage and continues to build trust with its growing community.

Customer stories: Token Terminal’s Data Partnership with Pendle

Through its partnership with Token Terminal, Raydium turns transparency into a competitive advantage and continues to build trust with its growing community.

Customer stories: Token Terminal’s Data Partnership with Raydium

Token Terminal’s standardized onchain metrics are now live on CoinGecko! You can find them on every asset page under the Financials section. The first data sets include historical data for fees and revenues, with more metrics to come.


Token Terminal x CoinGecko: Token Terminal’s onchain data is now available on CoinGecko

Over the coming months, Binance users will get access to key financial and usage metrics for crypto assets — all from a single, trusted source.

Binance Leverages Token Terminal’s Data Infrastructure To Deliver On-chain Analytics for Millions of Users

Token Terminal has completed its integration of Sonic to enable institutional-grade onchain analytics for the Sonic ecosystem. This integration improves the accessibility of Sonic's onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Sonic is live on Token Terminal

Over the past few weeks, we’ve shipped a series of customer‑driven upgrades to the Token Terminal API. In this post, you’ll get a quick tour of the changes—along with concrete, real‑world examples that show how teams are already putting our API to work.

New updates to the Token Terminal API

Through this collaboration, Token Terminal will provide onchain data to Messari and support their platform and research reports with standardized and institutional-grade analytics

Token Terminal x Messari: A partnership that advances the quality and distribution of onchain data & research

Token Terminal is now the primary onchain data provider for Focal, FalconX’s AI-driven insights engine built for institutional investors in crypto markets.

Token Terminal x Focal by FalconX: Powering institutional-grade onchain intelligence

Token Terminal has completed its integration of Gravity Alpha Mainnet to enable institutional-grade onchain analytics for the Gravity Alpha Mainnet ecosystem. This integration improves the accessibility of Gravity Alpha Mainnet's onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Gravity Alpha Mainnet is live on Token Terminal

Token Terminal has completed its integration of Injective to enable institutional-grade onchain analytics for the Injective ecosystem. This integration improves the accessibility of Injective’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Injective is live on Token Terminal 

Token Terminal has completed its integration of Viction to enable institutional-grade onchain analytics for the Viction ecosystem. This integration improves the accessibility of Viction’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Viction is live on Token Terminal 

In addition to standardized financial and usage metrics, Maple Finance and Token Terminal are excited to explore opportunities to create custom dashboards with project-specific metrics that would offer both lenders and borrowers deeper insight into the platform’s features and performance.

Customer stories: Token Terminal’s Data Partnership with Maple Finance

Through its partnership with Token Terminal, Merkle Trade turns transparency into a competitive advantage and continues to build trust with its growing community.

Customer stories: Token Terminal’s Data Partnership with Merkle Trade

With Token Terminal Studio, analysts gained the power to create custom charts, data tables, and dashboards. Now, with Teams, entire investment and data analytics teams can collaborate on custom dashboards in real-time.

Introducing Token Terminal Teams: Collaborate on Onchain Data

We’re excited to introduce Token Terminal Studio, a suite of industry-leading tools designed to enable analysts to easily create custom analysis by leveraging the data that’s available on Token Terminal.

Introducing Token Terminal Studio: Industry-Leading Tools for Custom Onchain Analysis

We’re excited to introduce Token Terminal Sheets, a Google Sheets & Microsoft Excel plug-in that makes all Token Terminal datasets accessible within analysts’ spreadsheet workflows, and frees up more time for research and insight generation.

Introducing Token Terminal Sheets: Access Onchain Data in Your Spreadsheet

The best chains build a mutually beneficial flywheel between the platform & its app ecosystem

Ecosystem metrics by metric type

Through its partnership with Token Terminal, Vertex turns transparency into a competitive advantage and continues to build trust with its growing community.

Customer stories: Token Terminal’s Data Partnership with Vertex

Together, Token Terminal and Firstset (“TT x 1S”) provide blockchain networks—both emerging and established—with a comprehensive validator solution that goes beyond traditional validation services. By partnering with TT x 1S, a network gets access to enterprise-level validation services, institutional-grade onchain analytics, and a Wall Street distribution—-from testnet to mainnet and beyond.

Token Terminal Partners with Firstset

We’re excited to launch our new blog series, ‘How We Build,’ where our engineering team takes you behind the scenes to reveal how we run a scalable and reliable blockchain data pipeline—the core infrastructure powering all of Token Terminal’s products. From managing in-house node infrastructure across 40+ blockchains to maintaining a 400TB data warehouse.


Announcing Our Engineering Blog Series: ‘How We Build’ by the Token Terminal Engineering Team

We are thrilled to announce the appointment of Alex Wenham as a Strategic Advisor at Token Terminal. Alex brings over fifteen years of experience from the intersection of traditional finance and crypto, having spent a significant part of his career at Bloomberg, where he held key leadership roles focused on institutional sales and product strategy. His extensive expertise in both traditional finance and the rapidly evolving digital asset landscape make him an invaluable addition to our growing team.


Token Terminal Welcomes Alex Wenham as a Strategic Advisor

Through its partnership with Token Terminal, Euler turns transparency into a competitive advantage and continues to build trust with its growing community.

Customer stories: Token Terminal’s Data Partnership with Euler

Arbitrum

In this episode, we’re joined by Steven Goldfeder, Co-Founder and CEO of Offchain Labs, the team behind Arbitrum. We discuss the launch of Arbitrum Stylus, Arbitrum's strategic positioning in the expanding blockchain market, key developments within the Orbit ecosystem, the concept and significance of chain clusters, and much more.

Exploring Arbitrum Stylus, Orbit, and Nitro: An Interview with Steven Goldfeder

Moonwell is one of the fastest growing lending projects on Base and Optimism. The project has raised ~$20m in venture capital from crypto-native funds, and its core contributors worked at Coinbase for several years before starting the project. Now, with over $140 million in user deposits, Moonwell recognized the need for reliable, continuous, and data-driven stakeholder reporting.

Moonwell enters into a Data Partnership with Token Terminal

We’re excited to introduce Discover – Token Terminal’s brand-new discover product that puts the most insightful crypto data right at your fingertips.
The Discover page includes real-time onchain analytics dashboards created by leading analysts in the crypto market.

Token Terminal Discover is live

In this episode of the Fundamentals podcast, we're joined by Carlos Domingo, Co-Founder and CEO of Securitize – a financial services platform that specializes in the tokenization of real-world assets.

Navigating Asset Tokenization with Securitize | Interview with Carlos Domingo

In this episode, we’re joined by Jamie Coutts, Chief Crypto Analyst at Real Vision, a financial knowledge and education platform founded in 2014. Real Vision provides honest financial insights from industry experts, along with market tools, an AI concierge, charting, note-taking, and access to a community of like-minded investors.

Bitcoin, Macro, and the Fundamentals of Digital Asset Investing With Jamie Coutts From Real Vision

Polygon

We were recently joined by Sandeep Nailwal and Marc Boiron from Polygon on our Fundamentals podcast to discuss the technological and economic aspects of the evolving blockchain landscape. During our discussion, we focused on AggLayer, Polygon’s solution for an infinitely scalable blockchain ecosystem that aims to provide economic sovereignty for individual chains while ensuring unified liquidity and interoperability.

AggLayer: Polygon's Vision for the Internet of Value | Interview with Sandeep Nailwal & Marc Boiron

In this episode, we’re joined by Cosmo Jiang, Portfolio Manager at Pantera Capital to discuss the details behind Pantera’s largest investment ever, into The Open Network – or TON – the Layer 1 network originally designed by Telegram.

TON: Pantera's Largest Investment Ever | Interview With Cosmo Jiang

In this episode of the Fundamentals Podcast, we’re joined by Zach Pandl, the Head of Research at Grayscale. Zach talks about his career transition from Wall Street to the crypto industry, the compelling reasons behind his move, and his role at Grayscale.

Macro Trends, ETFs, Smart Contract Platforms, and Crypto Fundamentals: A Conversation with Grayscale

This week’s newsletter focuses on protocols (blockchains & decentralized applications) that generate the most fees. We’ll learn that analyzing only one chart from the Terminal can tell us a lot about the industry dynamics in the crypto market.

The Rainmakers of the Crypto Market

In this episode, we’re joined by Christopher Jensen, Director of Digital Asset Research at Franklin Templeton. We speak about Franklin Templeton's fundamentals-driven approach to digital asset investments research, and internal analysis to understand protocols, tokens, and value accrual.

Franklin Templeton's Approach to Digital Assets | Interview with Christopher Jensen

Token Terminal has completed its integration of Immutable zkEVM, Immutable X, and Immutable Orderbook (“Immutable”) to enable institutional-grade onchain analytics for the Immutable ecosystem. This integration improves the accessibility of Immutable’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Token Terminal brings Immutable’s onchain data in front of 300,000 institutional customers

Base

In this episode, we’re joined by Jesse Pollak, the Creator of Base. Our conversation dives into the details behind moving Coinbase onchain, building Base as a ‘company within a company’, and combining the strengths of Coinbase and Optimism to create a global onchain economy. 

The Power of Onchain: Updating the System with Jesse Pollak, Creator of Base

Bitcoin

Matthew Sigel, Head of Digital Assets Research at VanEck – a global investment management firm with over $100 billion in assets under management – joined us to discuss the current state of blockchain fundamentals.

Analyzing the Evolving Blockchain Landscape With VanEck

This week’s newsletter visualizes Uniswap’s growth and expansion from a single-chain to a multichain DEX. We go through Uniswap’s key financial and usage metrics, and break down the aggregate figures by chain. The chain-level datasets on Token Terminal offer valuable depth to the analysis of individual projects.

Uniswap’s Multichain Expansion Is Ethereum-Aligned

This week’s newsletter focuses on asset tokenization and the impact it could end up having on the crypto markets. We explore (i) how asset tokenization works, (ii) why incumbent companies might have an edge in leveraging blockchains, and (iii) what’s actually happening onchain today.

Asset Tokenization, the Return of the Incumbents?

Token Terminal has completed its integration of Celo to enable institutional-grade onchain analytics for the Celo network. This integration improves the accessibility of Celo’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Token Terminal brings Celo's onchain data in front of 300,000 institutional customers

Ethereum

This week's newsletter dives into the economics of Ethereum. We provide a step-by-step explanation of how the Ethereum network is able to turn a profit. Further, we take a look at how Ethereum benchmarks against some of the leading financial services and technology companies in terms of dividend and buyback yields – two profit distribution-related metrics that are well-known in traditional finance, but rarely talked about in crypto.

Ethereum – The “Dividend” King of Crypto

Ryan Rasmussen, Senior Crypto Research Analyst at Bitwise – the world's largest crypto index fund manager – joined us to discuss the current state of institutional interest towards crypto as an asset class.

 Navigating the Crypto Frontier with Bitwise

Token Terminal has completed its integration of Ronin to enable institutional-grade onchain analytics for the Ronin network, a blockchain forged for gamers. This integration improves the accessibility of Ronin’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Token Terminal brings Ronin’s onchain data in front of 300,000 institutional customers

Tron

A data-driven look into Tron’s onchain financials & alternative KPIs.

The Fundamentals of Tron

Token Terminal has completed its integration of TON to enable institutional-grade onchain analytics for the TON network, a blockchain that leverages a technology designed by Telegram. This integration improves the accessibility of TON’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Token Terminal brings TON’s onchain data in front of 300,000 institutional customers

Tune in as Token Terminal and Bloomberg explore the relatively uncharted territory of onchain data. The team will talk about the sources and interpretation of this emerging form of financial data, it's unique characteristics, and how it fits into investor analysis.

Bloomberg x Token Terminal: Onchain Data and Its Role in Investment Analysis

Token Terminal has completed its integration of Aptos to enable institutional-grade onchain analytics for the Aptos network. This integration improves the accessibility of Aptos’ onchain data to enable more informed decision-making for all stakeholders in the ecosystem.

Token Terminal brings Aptos’ onchain data in front of 300,000 institutional customers

A weekly data digest for the leading crypto investors and operators.

Weekly Fundamentals – Ten Things Investors Need To Know About BTC & ETH

TRON DAO has entered a partnership with Token Terminal, integrating the TRON network’s data into Token Terminal’s sophisticated suite of data analytics tools. This collaboration promises to transform the way investors and analysts access and leverage TRON’s data.

TRON Network’s data is now integrated into Token Terminal

Blast

Weekly fundamentals – Is 💥 the Robinhood of Crypto?

Weekly fundamentals – Rebuilding coinBASE onchain

Weekly fundamentals – A New Era for Uniswap?

Weekly fundamentals – From building blockchains™ to building businesses

Weekly fundamentals — The onchain lending landscape is morphing

Tezos

In this episode, we’re joined by Arthur Breitman, the Co-Founder of Tezos, a layer 1 blockchain. We focus on what sets Tezos apart from other blockchains on the market, and how they stack up in terms of performance, network activity, economics, and more. We speak about the network's current use cases, and vision for the future.

Tezos – Tech, traction, challenges, vision, XTZ, and more with Co-Founder Arthur Breitman | Fundamentals ep.85

The latest from Token Terminal: new listings, metrics, and datasets. Stay informed with data-driven insights from Token Terminal PRO, and discover the latest updates to our API and Data Room offerings.

Weekly fundamentals – Blockchains (L2)

The latest from Token Terminal: new listings, metrics, and datasets. Stay informed with data-driven insights from Token Terminal Pro, and discover the latest updates to our API and Data Room offerings.

Weekly fundamentals – NFT marketplaces & the Top tokenholders dataset

Manta Pacific

In this week's research piece, we focus on the current state of Manta Pacific's product, financials, usage, competition, and more! Manta Pacific is a L2 smart contract platform for decentralized applications on Ethereum.

The fundamentals of Manta Pacific

Weekly fundamentals – Exploring the liquid (re)staking market sector

Weekly fundamentals – Incentives fueling growth across the board

Weekly fundamentals – HMX, zkSwap, and DLN are now listed on Token Terminal!

zkSync Era

In this week's research piece, we focus on the current state of zkSync's product, financials, usage, competition, and more! zkSync is an upstart zero-knowledge Ethereum rollup/L2 blockchain.

The fundamentals of zkSync

In this episode, we’re joined by Kenny Li, the Co-Founder of Manta Network, the modular ecosystem for ZK applications. Manta offers two networks, Manta Pacific, the first EVM-equivalent ZK-application platform that is scalable and secure through Celestia DA and Polygon zkEVM - and Manta Atlantic which is a ZK L1 chain on Polkadot.

Manta Network – Modular innovation, Celestia DA, ZK apps, New Paradigm, and more | Fundamentals ep.84

In this episode, we’re joined by Martin Leinweber, Digital Asset Strategist at MarketVector, for an insightful discussion on digital asset indexing. MarketVector and Token Terminal have been working together to provide institutions, advisors, and investors with access to investable products that track the breadth of data available in web3 and on blockchains.

MarketVector™ – Digital asset indexing & the Fundamental Index Suite | Fundamentals ep.83

Weekly fundamentals – Manta Pacific is now live on Token Terminal!

Uniswap

In this episode, we're joined by Devin Walsh, Co-Founder of the Uniswap Foundation. We dive into the Uniswap ecosystem, discussing the Foundation’s mission, its short- and long-term goals, and how the Uniswap Foundation is allocating capital via grants.

Uniswap Foundation – Innovation, developers, Uniswap v4, decentralization, LPs, & more | Fundamentals ep.82

In this episode, were joined by Adeniyi, the Co-Founder and CPO of Mysten Labs – the team behind the Sui blockchain. We dive into the intricacies of the Sui blockchain and how it is designed to achieve unprecedented levels of scalability and user experience.

How Sui achieves +270k TPS: tech, traction, KPIs, building for mass adoption & more | Fundamentals ep.81

Weekly fundamentals – zkSync Era is now live on Token Terminal!

Guest post by Vader Research: Value accrual is an essential yet often overlooked subject in Web3. We shall delve into how the value generated within the Yuga Ecosystem is apportioned among the diverse stakeholders within the Yuga Ecosystem (Yuga Labs, $APE, BAYC, MAYC, etc.).

Value Accrual Case Study: Yuga Labs | Guest post by Vader Research

yearn.finance

This article provides an introduction to Yearn Vaults V3. Core contributor, corn, walks us through Yearn's go-to-market strategy with Vaults V3 and how they decided to go with Polygon PoS, the key differences between V2 and V3 Vaults, the purpose of Vaults V3, fees, and the first ever Yearn hackathon! 

Yearn Vaults V3

In this episode, we’re joined by Alex Wettermann, the Head of Gaming at Shima Capital – an early stage VC firm investing in disruptive web3 companies. Alex gives us an overview of the current state of the web3 gaming market, and walk us through the key trends, challenges and potential opportunities within the space. 

Demystifying web3 gaming with Shima Capital – trends, challenges, opportunities | Fundamentals ep.80

While the cryptocurrency market rapidly evolves and investors seek innovative approaches to the sector, MarketVector Indexes™ (“MarketVector”), a pioneer provider in digital assets indexing, today announced the launch of the MarketVector™ Token Terminal Fundamental Index Suite, a groundbreaking approach to creating multi-token baskets.

MarketVector Indexes™ launches innovative Token Terminal Fundamental Index suite

Ether.fi

This article provides an introduction to ether.fi's liquid staking token: eETH. Founder & CEO Mike Silagadze walks us through what makes eETH unique, how native restaking works, and how users can earn loyalty points from both ether.fi and EigenLayer.

ether.fi launches eETH: non-custodial staking and native restaking

This article sheds light on the critical security challenges facing Web3, and provides an overview of how Forta is addressing these issues, as presented by Head of Ecosystem Andrew Beal.

Forta: Web3 security challenges and how Forta solves them

In this episode, we’re joined by Evgeny Gokhberg – the founder of Re7 Capital – a fund that specializes in DeFi R&D and liquid crypto investment strategies. We delve into the vast arena of DeFi, exploring everything from generating yield to managing risks.

Re7 Capital: investing in DeFi, yield, liquid venture, risk management, data, valuation | Fundamentals ep.79

Avalanche

In this week's research piece, we focus on the current state of Avalanche's product, business model, financials, usage, competition, and more! Avalanche is a smart contract platform for decentralized applications (a blockchain). Avalanche was founded by Emin Gün Sirer and launched in 2019.

The fundamentals of Avalanche

Angle

Pablo Veyrat, the Co-Founder of Angle, walks us through how stEUR is critical in the vision Angle is trying to push for, by laying down the permissionless and fully transparent foundations for a Euro risk-free rate onchain.

Angle's stEUR: Earn the Euro risk-free rate onchain

Helix Markets is a decentralized exchange built on the Internet Computer. 

Helix Markets – How building on the Internet Computer enables a better end-user UX

In this episode, we’re joined by Viktor Fischer, the Founder and CEO of RockawayX – a venture capital firm backing leading web3 funds and founders. We dive into the details around the current state of the crypto market, RockawayX's unique position as builders, and users, in addition to being investors. 

RockawayX – Value accrual, modular vs. monolithic blockchains, industry trends & pain points | ep.78

In this week's research piece, we focus on the current state of Base's product, business model, financials, usage, competition, and more! Base is a L2 smart contract platform for decentralized applications on Ethereum. Base was founded by the Coinbase team and launched in 2023.

The fundamentals of Base

Fantom

In this episode of the Fundamentals podcast, Michael Kong, CEO/CIO of the Fantom Foundation, discusses the unique value proposition of Fantom within the blockchain landscape, its core technology, and approach to achieving scalability. 

Fantom – value proposition, new tech stack (Sonic), economics, overcoming challenges & more | ep.77

In this week's research piece, we focus on the current state of Arbitrum's product, business model, financials, usage, competition, and more! Arbitrum is a L2 smart contract platform for decentralized applications on Ethereum. Arbitrum was founded by Offchain Labs and launched in 2021.

The fundamentals of Arbitrum

On this episode of the Fundamentals podcast, we welcome back Michael Nadeau, who runs the DeFi Report, to deepen our understanding of valuing blockchain networks. Michael has been working on deep-diving into this topic for several years and has recently published the 'Ethereum Investment Framework'.

The Ethereum Investment Framework: History, tech, economics, ETH price targets, and more!

The Ethereum Investment Framework is a non-technical, approachable guide for everything related to understanding and valuing Ethereum. Use this report to step out of the weeds and get a clear, high-level view of the space from onchain data and first principles.

The Ethereum Investment Framework

In this episode we’re joined by Alex Gluchowski, the Co-Founder and CEO of Matter Labs – the engineering team behind zkSync – a Layer-2 blockchain protocol that scales Ethereum with zero knowledge technology.

The state of zkSync: scaling, security, UX, traction, challenges, financials | Fundamentals ep.75

Let’s delve into the current market sector trends, project dynamics, and top trending smart contracts on Ethereum over the past month using our Trending contracts dashboard!

Trending contracts – Weekly fundamentals #80

Two weeks ago, a handful of data providers and media outlets reported that Uniswap had experienced a recent surge in trading volume.

The benefits of a vertically integrated data pipeline: why data providers reported different trading volumes for Uniswap

In this episode, we’re joined by Rennick Palley, Founding Partner at Stratos – a fund that seeds the future of crypto. 

Stratos – Valuing L1s and L2s, monetary premium, fat protocols, sustainability, and more | ep.74

This research piece focuses on Chronicle Protocol, currently the exclusive Oracle for MakerDAO and the second-largest Oracle by total value secured. Let’s dig in!

The Fundamentals of Chronicle Protocol

Understand the activity on your network, execute on the right things, and deliver results for the DAO.

The block explorer for growth teams in crypto

MultiversX

In this episode we’re joined by Benjamin Mincu, the Founder and CEO of MultiversX – a Layer 1 blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. 

MultiversX – Mass adoption, security, sharding, EGLD, xDay, and more | Fundamentals ep.73

Token Terminal's new ‘Fundraises’ data set has been released. Learn more about what fundraising data is, why it's important, and how you can interpret the data.

Introducing the ‘Fundraises’ data set

In this episode of the Fundamentals podcast, we’re joined by Mathijs van Esch, Associate Partner at Maven 11 – a crypto-native fund that partners with brave outliers challenging the status quo by redefining ownership.

Maven 11 – Value capture, modular blockchains, due diligence, good tech vs. good business | Fundamentals ep.72

In this episode, we’re joined by Jay Jog, the Co-founder of Sei - a general purpose, open-source Layer 1 blockchain offering infrastructure optimized for the exchange of digital assets.

Sei – the fastest Layer 1 blockchain, optimizing UX for the exchange of digital assets | Fundamentals ep.71

Token Terminal's new 'Insider transactions' data set has been released. Learn more about what insider transactions are, why they're important, and how you can interpret the data.

Data-driven research on crypto