Author: Lars, research director of The Block
Compiled by: Jordan, PANews
For the cryptocurrency sector, last October, most indicators finally started to rebound. This article will review the state of the crypto market over the past month with 11 charts.
- In October, the total on-chain transaction volume for Bitcoin and Ethereum increased by an adjusted 28.1% to $420 billion, with the adjusted on-chain transaction volume for Bitcoin increasing by 32.1% and that of ‘Ethereum by 20.9%.
- Adjusted stablecoin on-chain trading volume increased 8% in October to $899 billion, while stablecoin issuance supply decreased 0.7% to $149.3 billion , with USDT and USDC holding market shares of 79.5% and 16.9%, respectively.
- Bitcoin miner revenue increased 25.4% in October, reaching $1.02 billion. Additionally, Ethereum staking revenue also rebounded to $221.5 million, an increase of 5.8%.
- In October, the Ethereum network burned a total of 41,648 ETH, worth approximately $105 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has burned a total of approximately 4.43 million ETH, worth approximately $12.5 billion.
- The on-chain NFT market for Ethereum saw a rebound in trading volume in October, increasing 26.5% to approximately $121.6 million.
- Spot trading volume of compliant centralized exchanges (CEXs) increased 16.3% in October to $843 billion.
- In October, the net inflow of spot Bitcoin ETFs showed positive growth, with an inflow amount of approximately $5.3 billion. On October 30, BlackRock’s IBIT inflow reached $872 million, setting a new record.
- In terms of crypto futures, open interest for Bitcoin futures increased by 22.9% in October; open interest in Ethereum futures increased by 14.6%. In terms of trading volume, Bitcoin futures trading volume increased 12.1% in October to $1.25 trillion, while Ethereum futures trading volume increased 4.8%.
- In October, open interest in Bitcoin futures on the Chicago Mercantile Exchange increased by 21.5%, reaching $12.5 billion (an all-time high), and the average daily trading volume increased by 9. 6% to approximately $5.3 billion.
- The average monthly trading volume on Ethereum futures reached $488.8 billion in October, an increase of 4.8%.
- In the cryptocurrency options market, open interest for Bitcoin options increased by 35.76%, while open interest for Ethereum options remained unchanged. Additionally, in terms of trading volume, the monthly trading volume of Bitcoin options reached $54 billion, up 39.8%; Ethereum options trading volume was $10.2 billion, an increase of 4.7%.
ChainCatcher reminds readers to view blockchain rationally, improve their risk awareness, and be wary of various virtual token issuances and speculations. All content on this site consists of market information or related party opinions only and does not constitute any form of investment advice. If you find any sensitive information in the content, please click “Report” and we will address it as soon as possible.
