The crypto market is hot in March! 12 pictures interpret the market conditions in the past month🔥

Hello everyone, it’s time for us to review the crypto market again! The cryptocurrency market continued its growth momentum in March, with the vast majority of crypto industry indicators hitting all-time highs. Today we will use 12 pictures to interpret the encryption market conditions in the past month!

1. The adjusted total on-chain transaction volume of Bitcoin and Ethereum increased by 59.3% overall in March, reaching 587 billion US dollars. Among them, the adjusted on-chain transaction volume of Bitcoin increased by 59.5%, and the increase of Ethereum on-chain transaction volume was Reached 59.1%.

2. The transaction volume on the stablecoin chain increased significantly in March, rising to 893.8 billion US dollars, an increase of 41.3%; the supply of issued stablecoins increased, an increase of 6.2% to 137.4 billion US dollars, of which the US dollar was stable USDT’s market share accounted for 76.3%, while USDC’s market share increased slightly to 19.7%.

3. Bitcoin miner revenue grew to $2.01 billion in March, hitting a record high with an increase of 44.9%. In addition, Ethereum staking revenue increased significantly, reaching approximately 44.5%, rising to US$309.3 million.

4. In March, a total of 147,620 ETH were destroyed on the Ethereum network, with a value equivalent to US$543 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of approximately 4.23 million ETH, worth approximately US$11.84 billion.

5. The transaction volume of the NFT market on the Ethereum chain fell by 3.6% in March, reaching approximately US$726 million.

6. The spot trading volume of compliance centralized exchanges (CEX) continued to show an upward trend in March, with an astonishing increase of 115.8%, rising to US$1.44 trillion.

7. The spot market share rankings of major cryptocurrency exchanges in March were as follows: Binance was 78.5% (increased from both January and February), Coinbase was 10.9%, Kraken was 3.4%, and LMAX Digital was 1.3%.

8. In terms of crypto futures, the open interest of Bitcoin futures increased by 33.2% in March, and the open interest of Ethereum futures increased by 18.6%; in terms of futures trading volume, the trading volume of Bitcoin futures in March increased by 80.8%. rose to $2.02 trillion.

9. The open interest of CME Group’s Bitcoin futures in March increased by 49.5% to US$11.7 billion, setting a record high, and the daily average transaction volume (daily avg volume) increased by 114.8%, rising to about $6.8 billion, also a record high.

10. The average monthly trading volume of Ethereum futures rose to $893.8 billion in March, an increase of 60.9%.

11. In terms of cryptocurrency options, the open interest of Bitcoin options fell in March, down 1.9%, and Ethereum positions also fell, down 6.6%. In addition, in terms of Bitcoin and Ethereum option trading volume, both hit historical highs on March 29, with Bitcoin option trading volume reaching a new high of $46.75 billion, up 18.5%; Ethereum option trading volume reached a new high of $20.99 billion, up 23.6%.

The above is a wonderful review of the crypto market in March! How do you think the market will perform in April? Welcome to share your views in the comment area, let us look forward to a more exciting crypto market together! 😉