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Home ยป Reviewing the Performance of the Cryptocurrency Market in June Majority of Indicators Continue to Decline through 11 Graphs
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Reviewing the Performance of the Cryptocurrency Market in June Majority of Indicators Continue to Decline through 11 Graphs

By adminJan. 1, 2023No Comments2 Mins Read
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Reviewing the Performance of the Cryptocurrency Market in June Majority of Indicators Continue to Decline through 11 Graphs
Reviewing the Performance of the Cryptocurrency Market in June Majority of Indicators Continue to Decline through 11 Graphs
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Certainly! Here’s the rewritten article:

In June, most indicators in the cryptocurrency market continued their downward trend. This article uses 11 charts to analyze the market conditions over the past month.

1. Bitcoin and Ethereum’s adjusted on-chain transaction volumes both fell by 13.4% to $338 billion.

2. The adjusted on-chain transaction volume of stablecoins in June dropped by 4.5% to $839.6 billion. Despite a slight increase in total stablecoin supply by 0.4% to $142.6 billion, USDT market dominance rose to 79.1%, while USDC’s share slightly decreased to 17%.

3. Bitcoin miner revenue in June decreased slightly by 0.1% to $961.9 million. Meanwhile, Ethereum staking rewards increased by 8.1% to $289.2 million.

4. Ethereum’s network saw the destruction of 26,338 ETH tokens in June, valued at 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 tokens, worth around $12.2 billion.

5. Ethereum’s on-chain NFT market trading volume continued its significant decline in June, dropping by 18.4% to approximately $280.5 million.

6. Compliance-centric centralized exchanges (CEX) witnessed an 18.5% decrease in spot trading volume in June, totaling $658.8 billion.

7. Market share rankings for major cryptocurrency exchanges in June are as follows: Binance at 64% (a significant decrease from May), Bybit at 17.8%, Coinbase at 9%, and Kraken at 2.7%.

8. In cryptocurrency futures, open interest for Bitcoin futures decreased by 6.9% in June, while Ethereum futures open interest dropped by 3.1%. Trading volumes for Bitcoin futures fell by 19.9% to $1 trillion, and Ethereum futures volumes decreased by 23.8%.

9. CME Bitcoin futures open interest decreased by 9.6% to $9.3 billion in June, but daily average volumes increased by 3.4% to approximately $4.5 billion.

10. Ethereum futures monthly average trading volume in June significantly decreased to $528.1 billion, down by 23.8%.

11. In cryptocurrency options, open interest for Bitcoin options decreased by 39.45% in June, while Ethereum options saw a substantial 55.6% decrease. Bitcoin options trading volume fell by 7.9% to $43.1 billion, and Ethereum options trading volume dropped by 46.2% to $16.9 billion.

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