June Crypto Market Review: Multiple Indicators Continue to Decline

In June, most indicators in the crypto market continued to show a downward trend. This article will analyze the market conditions of the past month through 11 key data points.

1. The total on-chain transaction volume decreased by 13.4%, falling to $338 billion. Both Bitcoin and Ethereum experienced the same magnitude of decline in on-chain transaction volume.

2. The on-chain transaction volume of stablecoins decreased by 4.5% to $839.6 billion. The supply of issued stablecoins slightly increased by 0.4% to $142.6 billion. The market share of USDT rose to 79.1%, while USDC slightly dropped to 17%.

3. Bitcoin miner revenue decreased slightly by 0.1% to $961.9 million. In contrast, Ethereum staking revenue grew by 8.1% to $289.2 million.

4. The Ethereum network burned 26,338 ETH in June, worth approximately $95.1 million. Since the implementation of EIP-1559 in August 2021, a total of about 4.33 million ETH has been burned, worth approximately $12.2 billion.

5. The trading volume of the NFT market on the Ethereum chain continues to decline significantly by 18.4%, dropping to approximately $280.5 million.

6. The trading volume of compliant centralized exchanges (CEX) has decreased by 18.5% to $658.8 billion.

7. Main crypto exchanges' June spot market shares: a leading exchange 64% (significantly down from May), a new trading platform 17.8%, a major US exchange 9%, and a traditional European exchange 2.7%.

8. The open interest of Bitcoin futures decreased by 6.9%, while the open interest of Ethereum futures decreased by 3.1%. The trading volume of Bitcoin futures dropped by 19.9% to $1 trillion, and the trading volume of Ethereum futures fell by 23.8%.

9. The open interest of Bitcoin futures at a large traditional futures exchange decreased by 9.6% to $9.3 billion, but the average daily trading volume increased by 3.4% to approximately $4.5 billion.

10. The monthly average trading volume of Ethereum futures has decreased significantly by 23.8%, falling to 528.1 billion USD.

11. In the options market, the open interest of Bitcoin options plummeted by 39.45%, while the open interest of Ethereum options saw a significant drop of 55.6%. The monthly trading volume of Bitcoin options decreased to $43.1 billion (a decline of 7.9%), and the trading volume of Ethereum options fell to $16.9 billion (a decline of 46.2%).

Overall, the crypto market showed a comprehensive decline in June, with most indicators experiencing varying degrees of decrease, reflecting the overall sluggish state of the market.