Exchange

Trade-related activity measure the interest exchanges have in a crypto asset.

Total Exchange Volume

Weight: 40%
Source: Coin Metrics

The total amount of value exchanged through buying and selling target cryptocurrency within exchanges.

Count of Exchanges (Listing [x] crypto)

Weight: 20%
Source: CoinDesk Data

The number of exchanges that allow buying and selling of a particular cryptocurrency, out of the basket of 9 exchanges chosen by CoinDesk.

Total Trade Pairs

Weight: 20%
Source: CoinDesk Data

The number of fiat to crypto and crypto to crypto trade pairs, out of the 9 exchanges chosen by CoinDesk. These aren't volumes, they are simple counts of pairs such as BTC/USD.

Exchange Volume - Fiat to Crypto

Weight: 5%
Source: CoinDesk Data

The volume of exchange trading occurring from all fiat to target cryptocurrency, out of the 9 exchanges chosen by CoinDesk.

Exchange Volume - Crypto to Crypto

Weight: 5%
Source: CoinDesk Data

The volume of exchange trading occurring from all cryptocurrencies to target cryptocurrency, out of the 9 exchanges chosen by CoinDesk.

Trade Pairs - Fiat to Crypto

Weight: 5%
Source: CoinDesk Data

The count of trade pairs of all fiat currencies to target cryptocurrency, out of the 9 exchanges chosen by CoinDesk.

Trade Pairs - Crypto to Crypto

Weight: 5%
Source: CoinDesk Data

The count of trade pairs of all cryptocurrencies to target cryptocurrency, out of the 9 exchanges chosen by CoinDesk.

Network

Direct contributions (like mining) or uses (like on-chain transactions) measure the interest in the asset’s network.

On-Chain Transaction Volume

Weight: 50%
Source: Coin Metrics

This is the amount of value transferred on a crypto asset’s network.

Transaction Count

Weight: 45%
Source: CoinDesk Data

The count of transaction flowing through the on-chain network of [x] crypto, (separate from exchange volume).

Transaction Fees (Miner Fees)

Weight: 5%
Source: Coin Metrics, BitInfoCharts

The amount of fees, denominated usually in $ or [x] crypto, for transactions. If a cryptocurrency doesn't have fees, the value will be 0.

Social

Social media engagement and buzz across multiple platforms measure the interest of a community around a crypto asset.

Reddit Subscribers

Weight: 20%
Source: Reddit

The total number of users subscribed to the subreddit of [x] crypto.

Reddit Active Users

Weight: 20%
Source: Reddit

The number of online users subscribed to the subreddit of [x] crypto.

Reddit New Posts & Comments

Weight: 40%
Source: Reddit

The number of posts and comments (replies) created.

Twitter Followers

Weight: 20%
Source: Twitter

The number of followers to the Twitter account of [x] crypto.

Developer

Several GitHub related factors measure the interest developers have in the core protocol of the crypto asset. The software development progress for most projects can be found on GitHub, a code management platform.

GitHub Watchers

Weight: 20%
Source: GitHub

The number of GitHub users who are watching a code repository. This metric measures the level of interest in the developer community because watchers opt in to receive notifications on new discussions and events in their activity feed to follow the progress of the project.

GitHub Contributors

Weight: 20%
Source: GitHub

The number of GitHub users (that are not part of the core development team) who contribute code updates to a project. This metric measures the level of activity from the developer community; a higher number indicates more interests in a project, as anyone can contribute changes to a project for review.

GitHub Stars

Weight: 5%
Source: GitHub

The number of stars GitHub users have given a code repository. This metric measures how popular a project is because stars are given to indicate that users like the project or save them as bookmarks so they can follow the progress of the project.

GitHub Forks

Weight: 10%
Source: GitHub

The number of times GitHub users have copied another user’s public code repository to freely make changes to a project without affecting the original. This metric measures the level of interest from developer community, as forks are commonly used to propose change to someone else’s project or starting point for an idea.

GitHub Merged Pull Requests

Weight: 10%
Source: GitHub

The number of changes submitted by another user that have been merged in the main repository by a core developer in the project. This metric measures active project development and contributions from the developer community.

GitHub Open Issues

Weight: 10%
Source: GitHub

The number of open issues or tasks that are a work in progress. This metric is an indicator of on-going project development and progress.

GitHub Closed Issues

Weight: 10%
Source: GitHub

The number of issues reported and resolved, and tasks completed. This metric is an indicator of on-going project development and progress.

GitHub New Commits

Weight: 15%
Source: GitHub

The number of new commits or “revision” to a file in a repository, which enables tracking changes that were made and by who. This metric indicates on-going development activity and progress.