11 charts summarize the crypto market in July: a long-awaited rebound

Author: Lars, Research Director of The Block

In July, with the approval and successful listing of the US spot Ethereum ETF, most indicators of the cryptocurrency market finally rebounded after a long time. This article will use 11 pictures to interpret the status of the crypto market 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 the adjusted transaction volume of Bitcoin on the chain increased by 34.7% and that of Ethereum increased by 27.7%.

2. The adjusted stablecoin on-chain transaction volume in July increased by 18.8% to $997.4 billion, and the 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 miners' revenue reached $950.2 million in July, a slight decrease of 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 US$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 US$12.3 billion.

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

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

7. In July, the net inflow of spot Bitcoin ETF increased by 473% to US$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, Bitcoin futures trading volume increased by 65% ​​in July to US$1.66 trillion, and Ethereum futures trading volume 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 average volume increased by 12.3% to about $5.05 billion.

10. In July, the average monthly trading volume of Ethereum futures increased significantly to $755.5 billion, 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.