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October crypto market warms up: 11 key indicators fully rebound
October Crypto Market Review: Multiple Indicators Show Significant Rebound
In the just-passed October, the encryption industry finally welcomed a rebound in most indicators. This article will comprehensively review the condition of the crypto market over the past month through 11 key data points.
In October, the total on-chain transaction volume of Bitcoin and Ethereum increased by 28.1% overall, reaching $420 billion. Among them, the on-chain transaction volume of Bitcoin grew by 32.1%, while Ethereum grew by 20.9%.
In October, the on-chain transaction volume of stablecoins increased by 8%, reaching $899 billion. The supply of stablecoins saw a slight decline of 0.7% to $149.3 billion. USDT and USDC continue to dominate the market, with market shares of 79.5% and 16.9%, respectively.
Bitcoin miners' income surged by 25.4% in October, reaching $1.02 billion. Ethereum staking income also rebounded, increasing by 5.8% to $221.5 million.
In October, the Ethereum network destroyed a total of 41,648 ETH, worth approximately $105 million. Since the implementation of EIP-1559 in August 2021, Ethereum has cumulatively destroyed about 4.43 million ETH, worth approximately $12.5 billion.
The trading volume of the NFT market on the Ethereum chain experienced a significant Rebound in October, rising by 26.5% to approximately $121.6 million.
The spot trading volume of compliant centralized exchanges grew by 16.3% in October, reaching $843 billion.
In October, there was a net inflow of about $5.3 billion into spot Bitcoin ETFs. On October 30, a certain ETF product set a new record for single-day inflow at $872 million.
In October, the open interest of Bitcoin futures increased by 22.9%, while the open interest of Ethereum futures rose by 14.6%. The trading volume of Bitcoin futures surged by 12.1% to $1.25 trillion, and the trading volume of Ethereum futures grew by 4.8%.
In October, the open interest of Bitcoin futures on a certain exchange increased by 21.5%, reaching a historic high of $12.5 billion. The average daily trading volume rose by 9.6% to approximately $5.3 billion.
In October, the average monthly trading volume of Ethereum futures increased by 4.8%, reaching $488.8 billion.
In October, the open interest of Bitcoin options surged by 35.76%, while the open interest of Ethereum options remained basically unchanged. The monthly trading volume of Bitcoin options increased by 39.8% to $54 billion, and the trading volume of Ethereum options grew by 4.7% to $10.2 billion.
Overall, multiple indicators in the crypto market showed a significant Rebound in October, indicating that market sentiment is improving. However, investors should still cautiously pay attention to market trends and carefully assess investment risks.