Author: Lars, Head of Research at The Block
Compiled by: Jordan, PANews
For the crypto industry, the past October saw most indicators finally beginning to rebound. This article will review the state of the crypto market over the past month with 11 charts.
1. In October, the total on-chain transaction volume for Bitcoin and Ethereum after adjustments increased by 28.1%, reaching $420 billion, with Bitcoin's adjusted on-chain transaction volume increasing by 32.1% and Ethereum's by 20.9%.
2. In October, the adjusted on-chain transaction volume of stablecoins increased by 8%, reaching $899 billion, while the supply of stablecoins decreased by 0.7%, falling to $149.3 billion, with USDT and USDC holding market shares of 79.5% and 16.9%, respectively.
3. Bitcoin miner revenue increased by 25.4% in October, reaching $1.02 billion. Additionally, Ethereum staking revenue also rebounded, reaching $221.5 million, an increase of 5.8%.
4. In October, a total of 41,648 ETH were burned on the Ethereum network, worth approximately $105 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has burned a total of about 4.43 million ETH, valued at approximately $12.5 billion.
5. In October, the trading volume of NFTs on the Ethereum chain rebounded, increasing by 26.5%, reaching approximately $121.6 million.
6. The trading volume of regulated centralized exchanges (CEX) increased by 16.3% in October, reaching $843 billion.
7. In October, the net inflow of spot Bitcoin ETFs showed positive growth, with an inflow amount of approximately $5.3 billion. On October 30, BlackRock's IBIT inflow reached $872 million, setting a new record.
8. In terms of crypto futures, the open interest for Bitcoin futures increased by 22.9% in October; the open interest for Ethereum futures increased by 14.6%; in terms of trading volume, Bitcoin futures trading volume in October increased by 12.1%, reaching $1.25 trillion, while Ethereum futures trading volume rose by 4.8%.
9. In October, the open interest for Bitcoin futures at the Chicago Mercantile Exchange increased by 21.5%, reaching $12.5 billion (a record high), while the daily average trading amount increased by 9.6%, reaching approximately $5.3 billion.
10. In October, the average monthly trading volume of Ethereum futures grew to $488.8 billion, an increase of 4.8%.
11. In terms of cryptocurrency options, the open interest for Bitcoin options in October increased by 35.76%, while the open interest for Ethereum options remained unchanged. Additionally, in terms of trading volume, Bitcoin monthly options trading volume reached $54 billion, an increase of 39.8%; Ethereum options trading volume was $10.2 billion, with an increase of 4.7%.
