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

In June, most indicators of the Crypto Assets market continued to show a downward trend. This article comprehensively analyzes the overall state of the Crypto market over the past month through 11 key data points.

1. The total on-chain transaction volume has declined. In June, the adjusted on-chain total transaction volume of Bitcoin and Ethereum fell by 13.4% overall, reaching $338 billion. The on-chain transaction volume of both major Crypto Assets experienced a similar decline of 13.4%.

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

3. Miner Income and Staking Rewards Bitcoin miners' income slightly decreased by 0.1% in June to $961.9 million. In contrast, Ethereum staking income increased by 8.1%, reaching $289.2 million.

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

5. The NFT market continues to decline In June, the trading volume of the NFT market on the Ethereum chain fell significantly again by 18.4%, reaching approximately $280.5 million.

6. Centralized Exchange Spot Trading The spot trading volume of compliant centralized exchanges fell by 18.5% in June, down to $658.8 billion.

7. Changes in Exchange Market Share June's main Crypto Assets exchange spot market share ranking: certain trading platform 64% (significantly down from May), certain platform 17.8%, certain platform 9%, certain platform 2.7%.

8. Crypto Futures Market Performance In June, the open interest of Bitcoin futures fell by 6.9%; the open interest of Ethereum futures decreased by 3.1%. The trading volume of Bitcoin futures dropped by 19.9% to $1 trillion, while the trading volume of Ethereum futures declined by 23.8%.

9. CME Bitcoin Futures Data In June, the open interest of Bitcoin futures on the Chicago Mercantile Exchange decreased by 9.6% to $9.3 billion, but the daily trading volume increased by 3.4%, reaching approximately $4.5 billion.

10. Ethereum futures trading volume In June, the average monthly trading volume of Ethereum futures decreased significantly by 23.8%, falling to $528.1 billion.

11. Crypto Assets Options Market In June, the open interest of Bitcoin options fell sharply by 39.45%, while Ethereum's open interest dropped by 55.6%. The monthly trading volume of Bitcoin options decreased to $43.1 billion, a decline of 7.9%; the trading volume of Ethereum options fell by 46.2%, down to $16.9 billion.

Overall, the cryptocurrency market in June showed a comprehensive downward trend, with various indicators experiencing declines to varying degrees, reflecting the overall sluggish state of the market.