11 Charts Interpreting the Crypto Market Slump in June
In the recently concluded June, the majority of indicators in the cryptocurrency market continued to decline. This article will use 11 charts to interpret the crypto market situation over the past month.
1. Adjusted On-Chain Transaction Volume
In June, the total adjusted on-chain transaction volume for Bitcoin and Ethereum dropped by 13.4% to $338 billion, with both Bitcoin and Ethereum experiencing a 13.4% decrease in adjusted on-chain transaction volume.
2. Stablecoin Transaction Volume
The adjusted on-chain transaction volume of stablecoins decreased by 4.5% to $839.6 billion in June. The total supply of issued stablecoins increased slightly by 0.4% to $142.6 billion. The market share of USDT grew to 79.1%, while USDC’s market share slightly decreased to 17%.
3. Bitcoin Miner Revenue
Bitcoin miner revenue in June decreased to $961.9 million, a small decline of 0.1%. Meanwhile, Ethereum staking revenue increased by 8.1% to $289.2 million.
4. Ethereum Burned ETH
In June, the Ethereum network burned a total of 26,338 ETH, equivalent to $95.1 million. Since the implementation of EIP-1559 in early August 2021, a total of approximately 4.33 million ETH, valued at around $12.2 billion, has been burned.
5. Ethereum NFT Market Volume
The transaction volume of the Ethereum NFT market continued to decline significantly in June, dropping by 18.4% to approximately $280.5 million.
6. Centralized Exchange (CEX) Spot Trading Volume
The spot trading volume on compliant centralized exchanges fell by 18.5% in June, decreasing to $658.8 billion.
7. Spot Market Share of Major Exchanges
The market share rankings for spot trading in June were as follows: Binance at 64% (a significant decrease from May), Bybit at 17.8%, Coinbase at 9%, and Kraken at 2.7%.
8. Crypto Futures Market
In June, Bitcoin futures open interest decreased by 6.9%, and Ethereum futures open interest fell by 3.1%. In terms of trading volume, Bitcoin futures saw a 19.9% decline to $1 trillion, while Ethereum futures trading volume dropped by 23.8%.
9. CME Bitcoin Futures
The open interest in CME Bitcoin futures fell by 9.6% to $9.3 billion in June, but the daily average volume increased by 3.4% to approximately $4.5 billion.
10. Ethereum Futures Monthly Trading Volume
The monthly trading volume of Ethereum futures significantly decreased to $528.1 billion in June, a decline of 23.8%.
11. Crypto Options Market
In June, the open interest in Bitcoin options fell by 39.45%, and Ethereum options open interest also saw a significant decline of 55.6%. Additionally, Bitcoin options trading volume dropped to $4.31 billion, a decrease of 7.9%, while Ethereum options trading volume fell by 46.2% to $1.69 billion.
