June Crypto Market Slump: 11 Charts Reveal Continued Decline in Key Indicators

In the past June, most indicators of the crypto market continued to decline. This article delves into the overall state of the crypto market in June through 11 charts.

1. On-chain transaction volume declines: In June, the adjusted on-chain transaction volume of Bitcoin and Ethereum fell by 13.4% overall, down to $338 billion. The on-chain transaction volume of both major cryptocurrencies experienced a 13.4% decline.

2. Changes in the stablecoin market: The on-chain transaction volume of stablecoins decreased by 4.5% in June, reaching $839.6 billion. The supply of issued stablecoins slightly increased by 0.4%, reaching $142.6 billion. The market share of USDT rose to 79.1%, while USDC saw a slight decline, falling to 17%.

3. Miner income and staking rewards: Bitcoin miner income decreased slightly by 0.1%, totaling $961.9 million. Ethereum staking income, on the other hand, increased by 8.1%, reaching $289.2 million.

4. Ethereum Burn Amount: In June, the Ethereum network burned 26,338 ETH, worth approximately $95.1 million. Since the implementation of EIP-1559 in August 2021, Ethereum has burned a total of approximately 4.33 million ETH, worth about $12.2 billion.

5. NFT market shrinkage: In June, the trading volume of NFTs on the Ethereum chain continued to decline significantly by 18.4%, dropping to approximately $280.5 million.

6. Centralized exchange trading volume declines: The spot trading volume of compliant centralized exchanges fell by 18.5% in June, reaching $658.8 billion.

7. Changes in Exchange Market Share: The ranking of spot market shares of major cryptocurrency exchanges in June is as follows: 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. Futures market contraction: In June, the open interest of Bitcoin futures decreased by 6.9%; the open interest of Ethereum futures fell by 3.1%. The trading volume of Bitcoin futures dropped by 19.9% to $1 trillion, while the trading volume of Ethereum futures decreased by 23.8%.

9. Institutional Futures Market: In June, the open interest of Bitcoin futures on a certain commodity exchange decreased by 9.6% to $9.3 billion, but the average daily trading amount increased by 3.4%, reaching approximately $4.5 billion.

10. Ethereum futures trading volume: In June, the average monthly trading volume of Ethereum futures decreased significantly by 23.8%, falling to 528.1 billion dollars.

11. The options market has significantly declined: The open interest of Bitcoin options in June dropped by 39.45%, while the open interest of Ethereum options fell by 55.6%. The monthly trading volume of Bitcoin options decreased to $43.1 billion, down 7.9%; the trading volume of Ethereum options fell by 46.2%, to $16.9 billion.

Overall, the crypto market showed a comprehensive downward trend in June, with almost all major indicators experiencing varying degrees of decline. This reflects the current sluggish state of the market, where investor sentiment is cautious and trading activity has significantly decreased. However, certain areas such as Ethereum staking income still saw growth, indicating that there are some positive factors in the market. The future direction of the market still requires close attention to changes in various indicators.