## data-ch2 — Dataset overview

## Source details

**Canonical URL:** [data-ch2 — Dataset overview](https://www.imf.org/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx.json)

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### Dataset structure
- Publication type: dataset (XLSX or CSV).
- Canonical source: https://www.imf.org/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx
- Workbook contains multiple worksheets with time series and figure-level data tied to "Global Financial Stability Report" Chapter 2.

### Worksheets and primary themes
- Worksheet: "GFSR Chapter 2 Oct. 2021"
  - rowCount: 32
  - columnCount: 10
  - Includes metadata rows with repeated "International Monetary Fund" and "Global Financial Stability Report".
  - Contains timestamp values: "2021-09-30T00:00:00.000Z" (appearing twice in sample rows).
- Worksheet: "Table of Contents"
  - rowCount: 24
  - columnCount: 12
  - References: "Chapter 2. The Crypto Ecosystem and Financial Stability Challenges" via formulas pointing to 'GFSR Chapter 2 Oct. 2021'!B23:J23.
- Worksheet: "Figure 2.1."
  - rowCount: 852
  - columnCount: 40
  - Title: "Figure 2.1. Crypto Ecosystem Market Developments"
  - Panels and headings include:
    - "1. Market Capitalization for Crypto Assets" (Billions of US dollars)
    - "3. Risk-Adjusted Returns" (Sharpe ratio)
    - "4. Stablecoin Market Capitalization" (Billions of US dollars and percent share)
  - Data columns in sample rows: Date; Stablecoins; Bitcoin; Ether; Smart contract ex. Ether; Other; Total; asset-class labels (e.g., "EM FX", "Crypto assets (top 10)"); risk-adjusted returns labeled "Past one year", "Past three years"; stablecoin subcomponents (e.g., "Tether", "USD coin", "Binance USD", "DAI (crypto backed)", "Pax Dollar", "Huobi USD", "Gemini USD", "sUSD (crypto backed)"); "Tether market share % (RHS)".
  - Sample timestamped rows beginning "2020-01-01T00:00:00.000Z", "2020-01-02T00:00:00.000Z", "2020-01-03T00:00:00.000Z", "2020-01-04T00:00:00.000Z".
- Worksheet: "Figure 2.2."
  - rowCount: 348
  - columnCount: 16
  - Title: "Figure 2.2. Crypto Ecosystem Challenges"
  - Panels include "1. Market Capitalization and Realized Volatility" (Billions of US dollars and percent)
  - Sample columns: "Meme tokens market cap", "Volatility of Dogecoin (right scale)", "Volatility of Bitcoin (right scale)".
  - Sample dates in October 2020: "2020-10-01T00:00:00.000Z", "2020-10-02T00:00:00.000Z", "2020-10-03T00:00:00.000Z", "2020-10-04T00:00:00.000Z".
- Worksheet: "Figure 2.3."
  - rowCount: 116
  - columnCount: 29
  - Title: "Figure 2.3. Stablecoins"
  - Columns include stablecoin names: "Tether", "USD Coin", "Binance USD", "DAI", "IRON stablecoin", "Titan token (right scale)".
  - Sample liability/asset buckets include "Cash/Bank deposits/Treasury bills", "US govt bonds", "Yankee CDs", "Commercial paper", "Corporate bonds".
  - Sample dates in June 2021: entries with "2021-06-02T00:00:00.000Z", "2021-06-03T00:00:00.000Z", "2021-06-04T00:00:00.000Z", "2021-06-05T00:00:00.000Z", "2021-06-06T00:00:00.000Z".
- Worksheet: "Figure 2.4."
  - rowCount: 240
  - columnCount: 123
  - Title: "Figure 2.4. Cryptoization Risks"
  - Panels include "5. Bitcoin Premiums in Local Currency Markets" (Percent deviation since 2018) and "6. Bitcoin Mining Activity by Country" (Share of global hashrate).
  - Columns include currency codes (e.g., "NGN", "KRW", "ARS", "ZAR"), distributional statistics "Latest", "10% tile", "90% Range", "MAX", and mining-country shares: "China", "United States", "Russia", "Malaysia", "Iran", "Kazakhstan", "Other".
  - Sample timestamp entries include "2019-09-01T00:00:00.000Z", "2019-10-01T00:00:00.000Z", "2019-11-01T00:00:00.000Z", "2019-12-01T00:00:00.000Z".

### Key numeric samples and exact values (as present in dataset samples)
- Timestamps:
  - "2021-09-30T00:00:00.000Z"
  - "2020-01-01T00:00:00.000Z"
  - "2020-01-02T00:00:00.000Z"
  - "2020-01-03T00:00:00.000Z"
  - "2020-01-04T00:00:00.000Z"
  - "2019-06-01T00:00:00.000Z"
  - "2020-10-01T00:00:00.000Z"
  - "2021-06-02T00:00:00.000Z"
  - "2019-09-01T00:00:00.000Z"
- Market capitalization and related sample values (Figure 2.1. sample row for "2020-01-01T00:00:00.000Z"):
  - Stablecoins: 4.849747852929252
  - Bitcoin: 130.3941015356099
  - Ether: 14.09745163178396
  - Smart contract ex. Ether: 10.024871928502519
  - Other: 32.25045223717436
  - Total: 191.616625186
- Stablecoin subcomponents and market share (Figure 2.1. sample row for "2019-06-01T00:00:00.000Z"):
  - Tether: 3.13941487387791
  - USD coin: 0.333535758186778
  - DAI (crypto backed): 0.16599386296391902
  - Pax Dollar: 0.0214673150932177
  - sUSD (crypto backed): 0.0027629716416451297
  - Tether market share % (RHS): 85.70202245077098
- Risk-adjusted returns (Sharpe ratio) sample values:
  - EM FX (Past one year): 0.5661829976539862
  - EM FX (Past three years): -0.14740157309854235
  - Crypto assets (top 10) (Past one year): 2.087380030962074
  - EM equities (Past one year): 1.671619981092378
  - EM USD credit (Past one year): 0.5398160851206929
- Figure 2.2. volatility samples:
  - Meme tokens market cap on "2020-10-01T00:00:00.000Z": 0.4242565645509903
  - Volatility of Dogecoin on "2020-10-01T00:00:00.000Z": 45.73091501954894
  - Volatility of Bitcoin on "2020-10-01T00:00:00.000Z": 44.87934121725728
- Figure 2.3. stablecoin backing samples:
  - Cash/Bank deposits/Treasury bills (Tether) on "2021-06-02T00:00:00.000Z": 0.3434951349650681
  - Tether value entry on "2021-06-02T00:00:00.000Z": 0.997380602
  - Titan token (right scale) on "2021-06-02T00:00:00.000Z": 1.684036329
  - Commercial paper (Tether backing) sample value: 0.4907772619519847
  - Corporate bonds (Tether backing) sample value: 0.0769567592666271
- Figure 2.4. cryptoization and mining samples:
  - NGN "Latest" sample value: 0.031252820024608705
  - NGN "10% tile": -0.046023169229068774
  - NGN "90% Range": 0.2938905245202355
  - NGN "MAX": 0.4998804197824711
  - Mining share sample for China on "2019-09-01T00:00:00.000Z": 75.53
  - Mining share sample for United States on "2019-09-01T00:00:00.000Z": 4.06
  - Mining share sample for Other on "2019-09-01T00:00:00.000Z": 8.059999999999999

### Observations for users and data consumers
- The workbook encodes multiple figure panels combining market-cap time series, volatility measures, stablecoin reserve composition, risk-adjusted returns, currency-specific bitcoin premia, and mining hashrate shares.
- Time coverage in samples spans at least "2019-06-01T00:00:00.000Z" through "2021-09-30T00:00:00.000Z".
- Numeric values preserve high decimal precision throughout; any downstream use should maintain exact numeric fidelity (no rounding), per dataset formatting.

*Source: https://www.imf.org/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2021/october/data/data-ch2.xlsx_