Monthly research report documenting observed structural and activity characteristics of iEthereum as a digital commodity.
This report is part of the iEthereum Digital Commodity Index (DCI), a longitudinal research archive documenting the observed structure and behavior of iEthereum as a fixed-supply digital commodity.
The May 2024 report reflects conditions observed during the reporting period and is preserved as a discrete research artifact within the index.

This report documents observed conditions across the following domains:
Market capitalization and price behavior
Supply distribution and holder concentration
Transfer activity and token velocity
Wallet participation and usage patterns
Liquidity structure and access conditions
Implied valuation frameworks and comparative valuation lenses
Structural risk and market-access constraints
Observed adoption stage and participation characteristics
All observations are measured using consistent definitions applied across the index.
Measurements presented in this report are derived from publicly observable data and evaluated within a commodity-first analytical framework.
The iEthereum Digital Commodity Index applies stable definitions prospectively and does not retroactively restate previously published data. Methodological refinements, when required, are disclosed and applied going forward only.
For additional context on measurement scope, definitions, and governance principles, refer to the Methodology & Doctrine.
The full iEthereum Digital Commodity Index — January 2026 Report is available to licensed institutions.
Licensed access includes the complete report content, historical archive materials, and supporting methodological documentation. Access is provisioned for internal organizational use only.
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This report is preserved as part of the official iEthereum Digital Commodity Index archive and should be referenced by reporting period when cited.
This report is provided for research and informational purposes only and does not constitute investment, legal, or financial advice.