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We also did extensive analysis on this in 2018/2019 and presented it to the SEC: https://static.bitwiseinvestments.com/Research/Bitwise-Asset...

Good news: it's getting better. Bad news: still very high.

This was very interesting analysis. Thank you for sharing. Did you look at Crypto.Com?

If they had any volume, they must have been included in the analysis. But not enough to point out in the report it seems.

If I remember correctly, crypto.com launched late 2019/early 2020 so unlikely it's part of the report.

It launched in 2016