June crypto market slump: multiple indicators continue to decline

In the past June, most indicators in the crypto market showed a downward trend. This article will analyze the state of the crypto market over the past month from multiple perspectives.

1. In June, the total on-chain transaction volume of Bitcoin and Ethereum decreased by 13.4%, dropping to $338 billion. The on-chain transaction volume of the two major cryptocurrencies also saw a decline of 13.4%.

2. The stablecoin sector has not been spared either. In June, the adjusted on-chain trading volume of stablecoins fell by 4.5%, reaching $839.6 billion. Although the supply of issued stablecoins saw a slight increase, it only rose by 0.4%, reaching $142.6 billion. Among them, USDT's market share 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, amounting to $961.9 million. In contrast, Ethereum staking income rose 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 burned a total of about 4.33 million ETH, valued at approximately $1.22 billion.

5. The NFT market continues to shrink, with Ethereum on-chain NFT trading volume falling sharply by 18.4% in June, dropping to approximately $280.5 million.

6. The trading volume of compliant centralized exchanges (CEX) in the spot market fell by 18.5% in June, dropping to $658.8 billion.

7. Major cryptocurrency exchanges' June spot market share rankings: a certain trading platform 64% (significantly down from May), a certain trading platform 17.8%, a certain trading platform 9%, a certain trading platform 2.7%.

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

9. The open interest of Bitcoin futures on a certain exchange decreased by 9.6%, falling to $9.3 billion, but the daily trading volume increased by 3.4%, rising to about $4.5 billion.

10. The average monthly trading volume of Ethereum futures has significantly decreased to $528.1 billion, a decline of 23.8%.

11. The options market has shown even more sluggish performance. In June, the open interest of Bitcoin options plummeted by 39.45%, while Ethereum saw a dramatic drop of 55.6%. In terms of trading volume, the monthly trading volume of Bitcoin options fell to $43.1 billion, a decline of 7.9%; the trading volume of Ethereum options plummeted by 46.2%, leaving only $16.9 billion.

Overall, the crypto market in June is in a comprehensive adjustment phase, with most indicators showing varying degrees of decline. This reflects the cautious attitude of current market participants and the overall low market sentiment. However, certain areas, such as the growth of Ethereum staking income, still highlight some bright spots in the market. Investors and market observers need to closely monitor the ongoing development of these trends.