Data review of the crypto market in July: overall rebound, on-chain transaction volume increased by more than 30%

Original author: Lars, head of research at The Block

Original translation: Jordan, PANews

In July, with the approval and successful listing of the US spot Ethereum ETF, most indicators in the cryptocurrency market finally rebounded after a long time. This article will use 11 pictures to interpret the crypto market situation in the past month.

1. In July, the adjusted total transaction volume of Bitcoin and Ethereum increased by 31.8% to US$445 billion, of which Bitcoin's adjusted transaction volume increased by 34.7% and Ethereum's increased by 27.7%.

2. Adjusted stablecoin on-chain transaction volume in July increased by 18.8% to $997.4 billion, and stablecoin issuance supply increased by 1.2% to $144.3 billion, of which USDT and USDC had market shares of 78.9% and 17.1%, respectively.

3. Bitcoin miner revenue reached $950.2 million in July, down slightly by 1.2%. In addition, Ethereum staking revenue also fell by 6.6% to $270.2 million.

4. In July, the Ethereum network destroyed a total of 17,114 ETH, equivalent to $56.4 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of about 4.35 million ETH, worth about $12.3 billion.

5. In July, the NFT market transaction volume on the Ethereum chain continued to decline significantly, falling by 49.6%, further falling to about $140.3 million.

6. The spot transaction volume of compliant centralized exchanges (CEX) rebounded in July, increasing by 6.7% to $702.7 billion.

7. Net inflows into spot Bitcoin ETFs increased 473% in July to $3.15 billion;

8. In terms of crypto futures, the open interest of Bitcoin futures increased by 15.6% in July; the open interest of Ethereum futures fell by 5.6%; in terms of futures trading volume, the trading volume of Bitcoin futures increased by 65% in July, falling to $1.66 trillion, and the trading volume of Ethereum futures increased by 43.1%.

9. In July, the open interest of Bitcoin futures at CME increased by 13.5%, rebounding to $10.6 billion, and the daily avg volume increased by 12.3% to about $5.05 billion.

10. The average monthly trading volume of Ethereum futures increased significantly to $755.5 billion in July, an increase of 43.1%.

11. In terms of cryptocurrency options, the open interest of Bitcoin options increased by 35.9% in July, and the open interest of Ethereum options also increased by 7.1%. In addition, in terms of Bitcoin and Ethereum options trading volume, Bitcoin monthly options trading volume reached US$56.9 billion, an increase of 31.9%; Ethereum options trading volume fell by 8.1% to US$15.5 billion.

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