Messari Methodology

The Messari methodology is a comprehensive set of methods to compute metrics and to classify assets. These metrics and classifications are available throughout our industry-leading data and research platform. For a nascent industry like crypto to flourish, a transparent and detailed methodology for metrics and classifications is crucial. It serves two primary purposes.

First, it provides a common standard for crypto investors and other professionals to communicate their ideas. The crypto community is marked by an ethos of open collaboration. However, the lack of standard language hinders communication and cooperation. For instance, when someone says “Bitcoin accounts for 70% of the total crypto market capitalization”, which “market capitalization” are they referring to? The one based on the total outstanding supply or the currently liquid supply? The actual number can be wildly different depending on the definition of what “supply” is.

Second, it helps our users make more informed decisions by being aware of how exactly a derived metric is computed and avoiding potential data pitfalls. For instance, it is well known that many exchanges conduct wash trading practices in order to inflate trading volume. We created a metric called “Real 10 volume” which filters out these exchanges. We describe to our users how the “Real 10” exchanges are picked and how exactly their volume is used to compute an aggregate price.

The Messari methodology is comprised of two main sections: a list of 100+ quantitative metrics and a list of 15+ qualitative classifications. You will also find the finer details of our proprietary methods with respect to the four most important metrics: price, volume, supply, and market capitalization.

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