The Block: Reviewing the Performance of the Cryptocurrency Market in July with 12 Images.
Original author: Lars, Research Director at The Block
Translated by: Luffy, Foresight News
In July, most indicators experienced significant adjustments. The adjusted total trading volume on the Bitcoin and Ethereum blockchains decreased by 16.9% to $188 billion (BTC -13.1%, ETH -21.9%):
The adjusted on-chain trading volume of stablecoins decreased by 12.3% to $487 billion. The supply of stablecoins decreased by 1% to $117.7 billion, with USDT market share rising to 71.5% and USDC decreasing to 20.9%:
Bitcoin miner revenue increased by 10.1% to $863 million, while Ethereum staker revenue increased by 17.6% to $140.5 million:
A total of 82,846 ETH, worth approximately $156.7 million, was burned in July. ETH has been in a deflationary state since January 2023. Since the implementation of EIP-1559 in early August 2021, a total of 3.51 million ETH (approximately $10 billion) has been burned:
The monthly trading volume of NFT markets on Ethereum decreased by 20.4% to $425 million. Blur has surpassed OpenSea in trading volume for six consecutive months, mainly driven by its BLUR token incentives:
The compliant spot trading volume of CEXs decreased by 17.3% to $269.1 billion, the lowest since October 2020.
The market share of CEX spot markets is: Binance 70.6%, Coinbase 10.8%, Kraken 5%, BTSE 4.6%, LMAX Digital 3%:
The average daily trading volume of GBTC increased by 1% to $65 million:
In the futures market, BTC futures open interest decreased by -8.4%; there was a significant decrease in trading volume, with BTC monthly futures trading volume declining by 27.1% to $637.2 billion.
CME Bitcoin futures open interest decreased 15.8% to $2.34 billion (average daily trading volume decreased 2.9% to $1.63 billion):
As for ETH futures, monthly trading volume decreased 25.2% to $312.6 billion:
Lastly, for options. Both BTC/ETH options open interest decreased significantly (BTC: -38.6%, ETH: -25%). BTC options trading volume decreased, while ETH options trading volume increased. BTC options trading volume decreased 16% to $18.9 billion, and ETH options monthly trading volume increased 8.1% to $10.7 billion:
