By Lars, Head of Research at The Block
Compiled by: Jordan, PANews
In the past July, as the U.S. spot Ethereum ETF was approved and successfully listed for trading, most indicators in the cryptocurrency market finally experienced a long-awaited rebound. This article will interpret the cryptocurrency market conditions in the past month with 11 charts.
1. In July this year, the adjusted total on-chain transaction volume of Bitcoin and Ethereum increased by 31.8% to US$445 billion. Among them, the adjusted on-chain transaction volume of Bitcoin increased by 34.7%, and that of Ethereum increased by 27.7%. .
2. In July, the adjusted transaction amount on the stablecoin chain increased by 18.8% to US$997.4 billion, and the stablecoin issuance supply increased by 1.2% to US$144.3 billion, of which the market shares of USDT and USDC were 78.9% and 17.1% respectively. %.
3. Bitcoin miner revenue reached $950.2 million in July, a slight decrease of 1.2%. Additionally, Ethereum staking revenue also fell by 6.6% to $270.2 million.
In April and July, a total of 17,114 ETH were destroyed on the Ethereum network, with a value equivalent to US$56.4 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of approximately 4.35 million ETH, worth approximately $12.3 billion.
In May and July, the transaction volume of the NFT market on the Ethereum chain continued to decline significantly, with a drop of 49.6%, further falling to approximately US$140.3 million.
6. The spot trading volume of compliance centralized exchanges (CEX) rebounded in July, increasing by 6.7% to US$702.7 billion.
7. Net inflows into spot Bitcoin ETFs increased 473% in July, reaching $3.15 billion;
8. In terms of cryptocurrency futures, the open interest volume of Bitcoin futures increased by 15.6% in July; the open interest volume of Ethereum futures fell by 5.6%; in terms of futures trading volume, the trading volume of Bitcoin futures increased by 65% in July. Rising to $1.66 trillion, Ethereum futures trading volume increased by 43.1%.
In September and July, the open interest of CME Group's Bitcoin futures increased by 13.5%, rebounding to US$10.6 billion, and the daily average trading volume (daily avg volume) increased by 12.3%, rising to approximately US$5.05 billion.
In October and July, the average monthly trading volume of Ethereum futures increased significantly to US$755.5 billion, an increase of 43.1%.
11. In terms of cryptocurrency options, the open interest in Bitcoin options increased by 35.9% in July, and the open interest in Ethereum options also increased by 7.1%. In addition, in terms of Bitcoin and Ethereum options trading volume, Bitcoin’s monthly option trading volume reached US$56.9 billion, an increase of 31.9%; Ethereum option trading volume fell by 8.1% to US$15.5 billion.
(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.
"11 Pictures Interpreting the Cryptocurrency Market in July: The long-awaited rebound is finally here" This article was first published on "Blocker".
