May Market Data Review: CEX Spot Trading Volume Drops 20%, Bitcoin Miner Revenue Falls 46%
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May Market Data Review: CEX Spot Trading Volume Drops 20%, Bitcoin Miner Revenue Falls 46%
A total of 26,747 ETH were burned in May, equivalent to $91.7 million.
Navigating Web3 tides with focused insightsAuthor: Lars
Translation: TechFlow
Most metrics continued to decline. Adjusted total on-chain transaction volume dropped 4.4% to $390 billion (BTC: -4.7%, ETH: -3.9%):
Adjusted stablecoin on-chain transaction volume decreased by 20.5% to $879 billion; issuance increased by 0.5% to $141.9 billion, with USDT and USDC holding market shares of 78.8% and 17.1%, respectively:
BTC miner revenue fell 46% to $963 million (due to the fourth halving), while ETH miner revenue rose 4.1% to $267 million:
A total of 26,747 ETH were burned in May, equivalent to $91.7 million. Since the implementation of EIP-1559 in early August 2021, a cumulative 4.3 million ETH have been burned, worth $12.11 billion:
Ethereum NFT monthly market trading volume declined 27.8% to $344 million:
Spot trading volume on regulated CEXs decreased by 22.5% to $689 billion:
Notable market shares: Binance accounted for 79.4%, Coinbase 10.1%, Kraken 3.4%, and LMAX Digital 1.8%:
Futures: Open interest: BTC +12.9%, ETH +52%, reaching an all-time high (driven by approval of U.S. spot ETH ETFs); Volume: Monthly BTC futures volume declined 21% to $1.26T (ETH +0.2%):
CME Bitcoin futures open interest increased by 15.9% to $10.3 billion (daily average volume was $4.35 billion, down 9%):
Monthly ETH futures volume increased 0.2% to $692 billion:
Options: Open interest: BTC +30.5%, ETH +41.4%. Monthly BTC options volume decreased 1.2% to $46.8 billion (ETH: +19.2%, a new ATH of $31.4 billion):
You can find these metrics and other real-time data on this dashboard.
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