11 Charts Reviewing the Crypto Market in March: Miner Income, Options Trading Volume and Other Indicators Hit New Highs

Original author: Lars, Director of Research at The Block

Original compilation: Jordan, PANews

The cryptocurrency market continued to maintain momentum in March Growth trend, most of the encryption industry indicators have reached record highs. This article will use 12 pictures to interpret the encryption market conditions in the past month.

In January and March, the total on-chain transaction volume of Bitcoin and Ethereum increased by 59.3% after adjustment, reaching US$587 billion. The transaction volume on the chain increased by 59.5%, and the transaction volume on the Ethereum chain increased by 59.1%.

Adjustment in February and March After that, the transaction volume on the stablecoin chain increased significantly, 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 stablecoin USDT market The share accounted for 76.3%, while USDC’s market share increased slightly to 19.7%.

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

4. March Ether A total of 147,620 ETH were destroyed on the Fang network, with a value equivalent to US$54.3 billion. 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 $11.84 billion.

5. March Ether The transaction volume of the NFT market on Fangchain fell by 3.6%, 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.

July and March each The spot market share of the major cryptocurrency exchanges ranks as follows: Binance at 78.5% (up from both January and February), Coinbase at 10.9%, Kraken at 3.4%, and LMAX Digital at 1.3%.

8. In crypto futures On the other hand, the open interest of Bitcoin futures in March increased by 33.2%, 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%, rising to 2.02 trillion. Dollar.

9, March Yuezhi The open interest of Bitcoin futures on the exchange increased by 49.5% to US$11.7 billion, a record high, and the daily average transaction volume (daily avg volume) increased by 114.8% to approximately US$6.8 billion, which is also a record high. new highs.

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

11. In cryptocurrency In terms of options, open interest in Bitcoin options fell by 1.9% in March, and Ethereum open interest also fell by 6.6%. In addition, in terms of Bitcoin and Ethereum options trading volume, both hit historical highs on March 29. Bitcoin options trading volume reached a new high of US$46.75 billion, an increase of 18.5%; Ethereum options trading volume reached 20.99 billion. The U.S. dollar hit a new high, rising 23.6%.

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