Original source: Lars, Director of Research at The Block
Compiled by: Jordan, PANews
After a long downturn, most crypto industry indicators improved in October. Overall, the market has shown signs of a strong rebound in the past month. This article will use 12 pictures to explain the crypto market conditions in the past October.
1. In October, the total transaction volume of Bitcoin and Ethereum on the chain increased by 34.8% after adjustment, reaching 196 billion US dollars. Among them, the transaction volume of Bitcoin after adjustment increased by 45.7%, and the transaction volume of Ethereum on the chain increased by 45.7%. 20.7%.
2. The adjusted transaction volume of stablecoins on the chain also rose in October, rising to US$554.6 billion, an increase of approximately 19.2%; however, the supply of issued stablecoins fell slightly by 0.2% to US$115.8 billion, of which US dollars The market share of the stable currency USDT is 73.2% (increased from August and September), while the market share of USDC fell slightly to 19.6%.
3. Bitcoin miner revenue also grew further in October, rising to $885 million, an increase of 17.4%. At the same time, Ethereum staking revenue increased by 8.6%, rising to a range of $125 million.
In April, a total of 41,348 ETH were destroyed on the Ethereum network in October, with a value equivalent to US$70.3 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of approximately 3.67 million ETH, worth approximately US$10.31 billion.
The transaction volume of the NFT market on the Ethereum chain increased slightly in May. In October, it reached approximately US$267 million, an increase of approximately 2%. However, the new NFT market Blur has surpassed OpenSea for the ninth consecutive month in terms of monthly transaction volume and other indicators.
6. The spot trading volume of compliance centralized exchanges (CEX) rose by an equally astonishing rate in October, reaching 55.2%, rising to approximately US$291.2 billion.
The spot market share rankings of major cryptocurrency exchanges in July and October are as follows: Binance is 69.2%, Coinbase is 10.7%, BTSE is 5.8%, Kraken is 5.6%, and LMAX Digital is 2.9%.
8. The average daily trading volume of Grayscale’s Bitcoin Trust Fund GBTC rose sharply in October, rising to $92 million, an increase of 157%.
9. In terms of crypto futures, the open interest of Bitcoin futures increased by 27.1% in October, and the open interest of Ethereum futures increased by 6.1%; in terms of futures trading volume, the trading volume of Bitcoin futures in October increased by 59.5%, rising to 768 billion. Dollar.
In October, CME Group's open interest in Bitcoin futures increased by 83.2% to US$3.56 billion, and the daily average transaction volume (daily avg volume) increased by 69% to approximately US$1.94 billion.
The average monthly trading volume of Ethereum futures in November and October rose to US$303 billion, a growth rate of 44.3%.
12. In terms of cryptocurrency options, there was a general increase in Bitcoin and Ethereum option positions in October, with Bitcoin option positions increasing by 80% and Ethereum option positions by 17%. In addition, in terms of Bitcoin and Ethereum option transaction volume, Bitcoin and Ethereum also experienced a significant increase. Among them, Bitcoin option transaction volume increased by 89.5% in October, rising to US$32.7 billion; Ethereum option transaction volume increased by 89.5% in October. Transaction volume increased by 38.4% to US$14 billion.
(The above content is excerpted and reprinted with the authorization of our partner PANews , original text link )
Statement: The article only represents the author's personal views and opinions, and does not represent the BlockCast. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and BlockCast will not be held responsible for any direct or indirect losses caused by investors' transactions.
