For the encryption industry, in the past September, due to the rebound in Bitcoin prices, it seemed that the market performed well, but in fact, most indicators declined. This article will use 11 pictures to interpret the encryption market conditions in the past month.
1. In September, the adjusted total on-chain transaction volume of Bitcoin and Ethereum fell by 13% overall to $328 billion, of which Bitcoin's adjusted on-chain transaction volume fell by 10.2% and Ethereum's decline by 17.8%.
Source: The Block Pro
2. In September, the adjusted transaction volume on the stablecoin chain dropped by 30.8% to US$832 billion, and the supply of stablecoin issuance increased by 1.3% to US$150.4 billion, of which USDT and USDC had a market share of 78.3% respectively. and 17.6%.
Source: The Block Pro
3. Bitcoin miner revenue continued to fall in September, falling to $815.3 million, a decrease of 4.2%. In addition, Ethereum staking revenue also fell by 4%, falling to $209.4 million.
Source: The Block Pro
4. In September, a total of 26,874 ether coins were destroyed on the Ethereum network, equivalent to US$68.2 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of approximately 4.39 million Ethereum coins, worth approximately US$12.4 billion.
Source: The Block Pro
5. In September, the NFT market transaction volume on the Ethereum chain once again continued its downward trend, falling by as much as 22%, further falling to approximately US$961 billion.
Source: The Block Pro
6. The spot trading volume of compliance centralized exchanges (CEX) failed to continue the growth trend in August in September, falling by 17.4% to US$724.6 billion.
Source: The Block Pro
7. Net inflows into spot Bitcoin ETFs showed positive growth in September, with inflows amounting to approximately US$1.13 billion.
Source: The Block Pro
8. In terms of encrypted futures, the open interest of Bitcoin futures increased by 16% in September; the open interest of Ethereum futures increased by 16.1%; in terms of futures trading volume, the trading volume of Bitcoin futures dropped by 16.1% in September. Falling to $1.11 trillion, Ethereum futures trading volume fell by 20.8%.
Source: The Block Pro
9. In September, CME Group’s open interest in Bitcoin futures increased by 14.3% to US$10.3 billion, and the daily avg volume fell by 4.7% to approximately US$4.8 billion.
Source: The Block Pro
10. In September, the average monthly trading volume of Ethereum futures dropped to US$465.5 billion, a decrease of 20.8%.
Source: The Block Pro
11. In terms of cryptocurrency options, open interest in Bitcoin options fell by 1.6% in September, and open interest in Ethereum options also fell by 8.4%. In addition, in terms of Bitcoin and Ethereum options trading volume, Bitcoin’s monthly option trading volume reached US$38.6 billion, a decrease of 28.1%; Ethereum option trading volume was US$9.7 billion, a decrease of 37.5%.
Source: The Block Pro
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
This article is reproduced with permission from: (PANews)
Original author: Lars, head of research at The Block
