By Lars, Head of Research at The Block
Compiled by: Jordan, PANews
For the cryptocurrency industry, in the past October, most indicators finally began to rebound and rise. This article will review the cryptocurrency market conditions in the past month in 11 charts.
1. In October, the adjusted total on-chain transaction volume of Bitcoin and Ethereum increased by 28.1% as a whole, rising to US$420 billion. Among them, the adjusted on-chain transaction volume of Bitcoin increased by 32.1%, and that of Ethereum increased by 20.9%.
2. The adjusted transaction volume of stablecoins on the chain increased by 8% in October to US$899 billion, and the issuance supply of stablecoins fell by 0.7% to US$149.3 billion, of which USDT and USDC had a market share of 79.5% respectively. and 16.9%.
3. Bitcoin miner revenue rose 25.4% in October to $1.02 billion. In addition, Ethereum staking revenue also rebounded from falling to $221.5 million, an increase of 5.8%.
4. In October, a total of 41,648 ETH was destroyed on the Ethereum network, worth the equivalent of $105 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of approximately 4.43 million ETH, worth approximately $12.5 billion.
5. In October, the transaction volume of the NFT market on the Ethereum chain rebounded, rising by 26.5% to approximately $121.6 million.
6. The spot trading volume of compliance centralized exchanges (CEX) increased by 16.3% in October to $843 billion;
7. Net inflows into spot Bitcoin ETFs are growing in October, with inflows amounting to approximately US$5.3 billion. On October 30, BlackRock IBIT saw inflows hit a new high of $872 million.
8. In terms of crypto futures, the open interest of Bitcoin futures in October increased by 22.9%; the open interest of Ethereum futures increased by 14.6%; in terms of futures trading volume, the trading volume of Bitcoin futures in October increased by 12.1%, reaching 1.25 trillion US dollar, Ethereum futures trading volume increased by 4.8%.
9. In October, CME Group’s Bitcoin futures open interest increased by 21.5% to US$12.5 billion (reaching a record high), and the daily avg volume increased by 9.6% to approximately US$5.3 billion. .
10. The average monthly trading volume of Ethereum futures in October grew to US$488.8 billion, an increase of 4.8%.
11. In terms of cryptocurrency options, open interest in Bitcoin options increased by 35.76% in October, while open interest in Ethereum options was flat. In addition, in terms of Bitcoin and Ethereum option trading volume, Bitcoin’s monthly options trading volume reached US$54 billion, an increase of 39.8%; Ethereum option trading volume was US$10.2 billion, an increase of 4.7%.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link)
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
The article "11 Charts Interpreting the Cryptocurrency Market in October: Most Indicators Rebounded" was first published on (Block Guest).
