June Crypto Assets Market Review: Most Indicators Show a Downward Trend

In the just-concluded June, most indicators in the Crypto Assets market continued to show a downward trend. This article will comprehensively analyze the overall situation of the Crypto Assets market in the past month through 11 key data points.

1. In June, the total on-chain transaction volume of Bitcoin and Ethereum fell by 13.4%, dropping to $338 billion. The on-chain transaction volume of both major Crypto Assets experienced a decline of 13.4%.

2. In terms of stablecoins, the on-chain transaction volume decreased by 4.5% in June, reaching $839.6 billion. The supply of issued stablecoins saw a slight increase of 0.4%, reaching $142.6 billion. The market share of USDT increased to 79.1%, while USDC slightly decreased to 17%.

3. In terms of miner income, Bitcoin miners saw a slight decrease of 0.1% in June, bringing their revenue to $961.9 million. Ethereum staking income, on the other hand, increased by 8.1%, reaching $289.2 million.

4. The Ethereum network burned a total of 26,338 ETH in June, worth approximately $95.1 million. Since the implementation of EIP-1559 in early August 2021, Ethereum has cumulatively burned about 4.33 million ETH, worth approximately $1.22 billion.

5. In June, the trading volume of the NFT market on the Ethereum chain continued to decline significantly, down 18.4% to about $280.5 million.

6. The compliance centralized exchange (CEX) saw a decline in spot trading volume in June by 18.5%, down to 658.8 billion USD.

7. Market share of the spot market in June among major exchanges: a leading exchange accounted for 64% (a significant decrease from May), while other major exchanges accounted for 17.8%, 9%, and 2.7%, respectively.

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

9. The open interest of Bitcoin futures at a large 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. In June, the average monthly trading volume of Ethereum futures decreased significantly by 23.8%, dropping to 528.1 billion USD.

11. The options market performed poorly, with the open interest of Bitcoin options in June dropping by 39.45%, while Ethereum plummeted by 55.6%. In terms of trading volume, the monthly trading volume of Bitcoin options fell by 7.9% to $43.1 billion, and the trading volume of Ethereum options dropped by 46.2% to $16.9 billion.

Overall, the various indicators of the cryptocurrency market in June generally showed a downward trend, reflecting the overall sluggish state of the market. Whether this trend will reverse in the coming months remains to be closely monitored.