June Crypto Market Sees Overall Decline: 11 Charts Analyzing the Market

In June, most indicators in the crypto market showed a downward trend. This article will analyze the market conditions of the past month in depth through 11 charts.

1. The total on-chain transaction volume of Bitcoin and Ethereum decreased by 13.4%, falling to $338 billion. The on-chain transaction volume of both major cryptocurrencies experienced a decline of 13.4%.

2. The performance of the stablecoin market varies. In June, the adjusted on-chain trading volume of stablecoins fell by 4.5% to $839.6 billion. The supply of issued stablecoins saw a slight increase of 0.4%, reaching $142.6 billion. The market share of USDT rose to 79.1%, while USDC decreased slightly to 17%.

3. The income of miners and staking rewards have not changed much. Bitcoin miners' income slightly decreased by 0.1% to $961.9 million. Ethereum staking income increased by 8.1%, reaching $289.2 million.

4. Ethereum continues to deflate. A total of 26,338 ETH were burned in June, worth approximately $95.1 million. Since the implementation of EIP-1559 in August 2021, approximately 4.33 million ETH have been burned, worth about $12.2 billion.

5. The NFT market continues to shrink. The trading volume of NFTs on the Ethereum chain has once again dropped significantly by 18.4%, down to approximately $280.5 million.

6. The trading volume of centralized exchanges has declined. The compliant CEX spot trading volume fell by 18.5% in June, reaching $658.8 billion.

7. Changes in exchange market share. June spot market share rankings: a certain trading platform 64% (significantly down from May), another platform 17.8%, another platform 9%, and other platforms 2.7%.

8. The futures market has fallen across the board. The open interest of Bitcoin futures decreased by 6.9%, while Ethereum fell by 3.1%. In terms of trading volume, Bitcoin futures dropped by 19.9% to $1 trillion, and Ethereum futures fell by 23.8%.

9. The activity level of institutional futures trading varies. The open interest of Bitcoin futures on a certain exchange decreased by 9.6% to $9.3 billion, while the average daily trading volume increased by 3.4% to approximately $4.5 billion.

10. Ethereum futures trading has shrunk. The average monthly trading volume of Ethereum futures in June decreased significantly by 23.8% to $528.1 billion.

11. The options market has significantly declined. The open interest of Bitcoin options fell by 39.45%, while Ethereum's dropped by 55.6%. In terms of trading volume, 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% to $16.9 billion.

Overall, the crypto market in June showed a comprehensive downward trend, with various indicators generally declining, reflecting the sluggish state of the market. However, certain sub-sectors such as stablecoin supply and Ethereum staking income still maintained slight growth, indicating that there are still some positive factors in the market.