June Crypto Market Continues to Be Lackluster: Analysis of Key Indicators through 11 Charts

In the past June, most indicators in the crypto market continued to show a downward trend. This article analyzes the overall situation of the crypto market in the past month through 11 charts.

1. In June, the total on-chain transaction volume of Bitcoin and Ethereum experienced a decline of 13.4%, dropping to $338 billion. Both major cryptocurrencies saw a decrease of 13.4% in their on-chain transaction volumes.

2. The stablecoin sector has not been spared either. The adjusted on-chain trading volume of stablecoins in June decreased by 4.5% to $839.6 billion. Nevertheless, the supply of issued stablecoins saw a slight increase, rising by 0.4% to $142.6 billion. Notably, USDT's market share increased to 79.1%, while USDC's share 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. In contrast, Ethereum staking income performed better, rising by 8.1% to $289.2 million.

4. The Ethereum network destroyed a total of 26,338 ETH in June, worth approximately $95.1 million. Since the implementation of the EIP-1559 proposal in early August 2021, Ethereum has destroyed approximately 4.33 million ETH, worth about $12.2 billion.

5. The NFT market continues to be impacted, with the trading volume of NFTs on the Ethereum chain in June dropping significantly by 18.4%, to approximately $280.5 million.

6. The spot trading volume of compliant centralized exchanges (CEX) also did not escape, falling by 18.5% in June to $658.8 billion.

7. The market share rankings of spot markets among major exchanges have changed, with a well-known trading platform accounting for 64% (a noticeable decrease compared to May), while other platforms account for 17.8%, 9%, and 2.7%, respectively.

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

9. The open interest in Bitcoin futures on a large commodity exchange decreased by 9.6%, falling to $9.3 billion. However, the average daily trading volume increased by 3.4%, reaching approximately $4.5 billion.

10. The Ethereum futures market has been severely impacted, with the average monthly trading volume in June plummeting to $528.1 billion, a decrease of 23.8%.

11. The options market is also not optimistic. The open interest for June Bitcoin options has plummeted by 39.45%, while Ethereum has experienced a drastic drop of 55.6%. In terms of trading volume, the monthly trading volume of Bitcoin options has fallen to $43.1 billion, a decline of 7.9%; the trading volume of Ethereum options has significantly decreased by 46.2%, dropping to $16.9 billion.

Overall, the crypto market in June showed a comprehensive downward trend, with various indicators generally declining, reflecting a lack of market confidence and a contraction in overall demand. However, specific areas such as Ethereum staking income and the average daily trading volume of certain exchanges still saw slight growth, indicating that there are still some positive factors in the market.