July Crypto Market Rebound: 11 Charts Analyzing Market Rebound

In July, the crypto market finally welcomed a long-awaited Rebound, with several indicators showing significant increases. This article will comprehensively analyze the trends in the encryption market over the past month through 11 key data points.

1. The total 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, Bitcoin's increase was 34.7%, and Ethereum's increase was 27.7%.

2. The trading activity of stablecoins has increased.

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

3. Miner income fluctuates slightly

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

4. Ethereum Continues to Deflate

In July, the Ethereum network burned a total of 17,114 ETH, worth approximately $56.4 million. Since the implementation of EIP-1559 in August 2021, Ethereum has cumulatively burned about 4.35 million ETH, valued at approximately $1.23 billion.

5. The NFT market continues to be sluggish.

In July, the transaction volume of the NFT market on the Ethereum chain dropped significantly by 49.6%, falling to approximately $140.3 million.

6. Centralized exchange trading volume rebounds

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

7. Bitcoin ETF attracts a large amount of funds

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

8. Futures market strengthens

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

9. Active Bitcoin Futures on the CME

In July, the open interest of Bitcoin futures on the Chicago Mercantile Exchange increased by 13.5% to 10.6 billion USD, and the average daily trading volume rose by 12.3% to approximately 5.05 billion USD.

10. Ethereum futures trading volume surges

In July, the average monthly trading volume of Ethereum futures increased significantly by 43.1%, reaching 755.5 billion USD.

11. The performance of the options market is diverging.

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

Overall, the crypto market showed significant signs of recovery in July, with multiple indicators rebounding. Bitcoin-related data performed particularly strongly, while Ethereum and the NFT market are still searching for growth momentum.