The Block researcher Lars published a series of posts on X that illustrated the growth of network metrics for stablecoins, the two most capitalized cryptocurrencies, NFTs and other key market segments.
Last month, the adjusted volume of on-chain value transferred across the Bitcoin and Ethereum networks grew by 28.1% to $420 billion.
1/12 October summary 🧵
Most metrics increased.
Total adjusted on-chain volume increased by 28.1% to $420B (BTC: +32.1%, ETH +20.9%): pic.twitter.com/Y2kK1XEayw
— Lars (@lars0x) November 4, 2024
In October, the indicator of the first cryptocurrency increased by 32.1%, Ethereum – by 20.9%.
Stablecoins
The adjusted transaction volume of the largest stablecoins grew by 8% in October to $899 billion.
2/12 Adjusted on-chain volume of stablecoins increased by 8% to $899B; Issued supply decreased by 0.7% to $149.3B, with USDT at 79.5% and USDC at 16.9% respective market share: pic.twitter.com/XjCvONZwvG
— Lars (@lars0x) November 4, 2024
The share of USDT in the segment was 79.5%; USDC – 16.9%.
Miner income
At the end of last month, the total income of miners increased by 25.4% and reached $1.02 billion.
3/12 BTC miner revenue increased by 25.4% to $1.02B, while ETH staker revenue increased by 5.8% to $221.5M: pic.twitter.com/SZ4gBOphHT
— Lars (@lars0x) November 4, 2024
In turn, the total staking revenues of Ethereum network participants increased by 5.8% – to $221.5 million.
Burning ETH
In October, 41,648 ETH were burned, which is equivalent to $105 million.
Since the implementation of EIP-1559 in August 2021, a total of 4.42 million ETH ($12.5 billion) have been withdrawn from circulation.
NFT
The monthly trading volume of the largest NFT marketplaces like Blur and OpenSea increased by 26.5% in October, amounting to $121.6 million.
CEX
The total turnover of centralized crypto exchanges increased by 16.3% to $843 billion.
6/12 Legitimate CEX spot volume increased by 16.3% to $843B: pic.twitter.com/ak5aheC4Oj
— Lars (@lars0x) November 4, 2024
ETF
At the end of October, the net inflow of funds into spot Bitcoin ETFs amounted to $5.3 billion.
In the context of individual funds, IBIT from BlackRock recorded a record figure on October 30 – $872 million.
Futures
Open interest in Bitcoin futures grew by 22.9% at the end of last month; for Ethereum-based contracts – by 14.6%.
Trading volume of derivatives based on digital gold increased by 12.1%. For Ethereum futures – by 4.8%.
Open interest in relevant derivatives on a regulated exchange CME grew by 21.5%, reaching a new all-time high of $12.5 billion.
Options
Open interest in Bitcoin options increased by 35.7% in October; for Ethereum-based contracts – remained unchanged.
The monthly trading volume of derivatives based on digital gold increased by 39.8%, to $54 billion (Ethereum – +4.7%, to $10.2 billion).
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Source: Cryptocurrency
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