🍴 [Analysis] Evaluating Bitcoin forks with network data

Popular metrics for cryptocurrency hardfork analysis often leave much to be desired. Focusing on Bitcoin ($BTC) derived hardforks, Coin Metrics breaks down the pros and cons of common metrics, such as transaction value, block fullness, fees, and, most importantly, market capitalization. Coin Metrics then walks out alternative methods including user uptake on a new fork, active supply, addresses with balances, and UTXO set size. Each metric stresses different data derived from a fork's blockchain with particular attention to on-chain activity. In other words, how active are these forks compared to Bitcoin? Coin Metrics analyses can also be seen as a knock against market cap, an almost universally adored metric with significant flaws. Overall, Coin Metrics emphasizes the need for multiple metrics to be used in unison in order to balance the blind spots of each tool.