The crypto market warms up in July: A comprehensive analysis of 11 key indicators

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July Crypto Market Warms Up: 11 Charts Reveal Market Trends

In July, the crypto market finally experienced a long-awaited rebound, with most indicators showing an upward trend. This article provides an in-depth analysis of the state of the crypto market over the past month through 11 charts.

  1. On-chain transaction volume has increased significantly.

In July, the adjusted on-chain total transaction volume of Bitcoin and Ethereum increased by 31.8%, reaching $445 billion. Among them, the adjusted on-chain transaction volume of Bitcoin grew by 34.7%, while Ethereum grew by 27.7%.

11 Illustrations Interpret July's Crypto Market: The Long-Awaited Rebound Has Finally Arrived

  1. The stablecoin market is steadily growing

In July, the adjusted on-chain transaction volume of stablecoins increased by 18.8%, reaching $997.4 billion. The issuance supply of stablecoins grew by 1.2%, rising to $144.3 billion. In terms of market share, USDT accounted for 78.9%, while USDC accounted for 17.1%.

11 charts interpret the July crypto market: the long-awaited rebound has finally arrived

  1. Miner income fluctuates slightly

In July, Bitcoin miners' revenue reached $950.2 million, a slight decrease of 1.2%. Ethereum staking revenue fell by 6.6%, dropping to $270.2 million.

11 charts interpret the July crypto market: the long-awaited rebound has finally arrived

  1. Ethereum continuous deflation

In July, the Ethereum network destroyed a total of 17,114 ETH, worth approximately 56.4 million USD. Since the implementation of EIP-1559 in August 2021, Ethereum has destroyed a total of approximately 4.35 million ETH, worth around 1.23 billion USD.

11 charts interpret the July crypto market: the long-awaited rebound has finally arrived

  1. The NFT market continues to decline.

In July, the trading volume of the NFT market on the Ethereum chain continued to decline sharply, dropping by 49.6% to approximately $140.3 million.

11 charts interpreting the July crypto market: the long-awaited rebound has finally arrived

  1. The trading volume of centralized exchanges has rebounded.

The spot trading volume of compliant centralized exchanges rebounded in July, increasing by 6.7% to reach $702.7 billion.

11 Charts Interpreting July's Crypto Market: The Long-Awaited Rebound Has Finally Arrived

  1. Significant growth of spot Bitcoin ETF

In July, the net inflow of spot Bitcoin ETFs increased by 473%, reaching $3.15 billion.

11 Images Interpret the July Crypto Market: The Long-Awaited Rebound Has Finally Arrived

  1. The crypto futures market performs strongly

In July, the open interest of Bitcoin futures increased by 15.6%, and the trading volume rose by 65%, reaching $1.66 trillion. The open interest of Ethereum futures decreased by 5.6%, but the trading volume grew by 43.1%.

11 charts interpret July crypto market: the long-awaited rebound has finally arrived

  1. The activity of Bitcoin futures on the Chicago Mercantile Exchange has increased.

In July, the open interest of Bitcoin futures at the Chicago Mercantile Exchange increased by 13.5%, reaching $10.6 billion. The average daily trading volume rose by 12.3%, reaching approximately $5.05 billion.

11 charts interpreting the July crypto market: The long-awaited rebound has finally arrived

  1. Active Ethereum futures trading

In July, the average monthly trading volume of Ethereum futures surged to $755.5 billion, an increase of 43.1%.

11 charts interpreting the July crypto market: the long-awaited rebound has finally arrived

  1. The differentiation of the cryptocurrency options market

In July, the open interest of Bitcoin options rose by 35.9%, with a trading volume of 56.9 billion dollars, an increase of 31.9%. The open interest of Ethereum options increased by 7.1%, but the trading volume fell by 8.1%, down to 15.5 billion dollars.

11 charts interpret July's crypto market: The long-awaited rebound has finally arrived

Overall, the crypto market showed significant signs of recovery in July, with most indicators rising, especially the performance of the Bitcoin-related market. However, the NFT market continues to decline, indicating a disparity in performance across different segments.

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BoredWatchervip
· 07-18 23:52
Ha, the bull run is coming!
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Deconstructionistvip
· 07-16 09:16
It's time to start being bearish again, right?
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GasSavingMastervip
· 07-16 02:09
The bull run is coming back, brothers, enter a position!
View OriginalReply0
ChainComedianvip
· 07-16 01:52
The scars from the bull run still hurt, who dares to surge.
View OriginalReply0
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