11 Charts Explaining June’s Sluggish Crypto Market: Most Indicators Continue to Fall

Author: Lars, Head of Research at The Block

Compiled by: Jordan, PANews

In the past June, most indicators of the cryptocurrency market continued to fall. This article will use 11 pictures Interpret the state of the crypto market over the past month.

1. In June, the overall adjusted on-chain transaction volume of Bitcoin and Ethereum fell by 13.4% to US$338 billion. Among them, the adjusted on-chain transaction volume of Bitcoin and Ethereum both fell by 13.4%.

2. The adjusted transaction volume of stablecoins on the chain fell by 4.5% in June to $839.6 billion; the supply of issued stablecoins increased, but the increase was only 0.4%, rising to $142.6 billion U.S. dollar, among which the U.S. dollar stablecoin USDT’s market share increased to 79.1%, while USDC’s market share dropped slightly to 17%.

3. Bitcoin miner revenue fell to $961.9 million in June, a smaller decrease of 0.1%. Additionally, Ethereum staking revenue rose 8.1% to $289.2 million.

4. In June, a total of 26,338 ETH were destroyed on the Ethereum network, with a value equivalent to US$95.1 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of approximately 4.33 million ETH, worth approximately US$12.2 billion.

5. In June, the transaction volume of the NFT market on the Ethereum chain once again continued to decline significantly, with a drop of 18.4%, further falling to approximately US$280.5 million.

6. The spot trading volume of compliance centralized exchanges (CEX) fell in June, down 18.5% to US$658.8 billion.

7. The spot market share rankings of major cryptocurrency exchanges in June are as follows: Binance is 64% (a significant decrease from May), Bybit is 17.8%, Coinbase is 9%, and Kraken is 2.7%.

8. In terms of crypto futures, the open interest of Bitcoin futures fell by 6.9% in June; the open interest of Ethereum futures fell by 3.1%; in terms of futures trading volume, Bitcoin futures trading in June The value of Ethereum futures fell by 19.9% ​​to US$1 trillion, and the trading volume of Ethereum futures fell by 23.8%.

9. In June, the open interest of CME Group’s Bitcoin futures decreased by 9.6% to US$9.3 billion, but the average daily trading volume (daily avg volume) increased by 3.4% to approximately US$4.5 billion. .

10. In June, the average monthly trading volume of Ethereum futures dropped significantly to US$528.1 billion, a decrease of 23.8%.

11. In terms of cryptocurrency options, the open interest of Bitcoin options fell by 39.45% in June, and the open interest of Ethereum also fell sharply, with a decrease of 55.6%. In addition, in terms of Bitcoin and Ethereum options trading volume, Bitcoin Reading options trading volume fell to US$43.1 billion, a decrease of 7.9%; Ethereum options trading volume fell by 46.2% to US$16.9 billion.

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