Crypto Metrics

It has been a roller coaster ride for the entire cryptocurrency space this year. There has also been a lot of Fear, Uncertainty, and Doubt (FUD) among investors in the crypto space.

This article is a general overview of events and the general crypto metrics of July 2022. The upcoming Ethereum Merge and the collapse of 3AC were huge factors in the crypto metrics recorded this July. This article covers important crypto metrics for the month of July 2022.

Let’s go over the crypto metrics in detail.

Important Crypto Metrics for July

July was a month of mixed emotions in general for crypto enthusiasts. According to a Bloomberg article, Crypto Fear and Greed Index fell to 19, making it the most fearful in the last two months. This increase in the fear index also arguably stems from the shocking collapse of the Three Arrow Capital (3AC). Despite this, there’s also been a lot of anticipation following the upcoming Ethereum Merge.

A Tweet by Lars reveals some of the top crypto metrics of July 2022. The tweet covers important metrics like BTC mining revenue, NFT market volume, CEX volume for July 2022, etc.

  1. First, the Total adjusted on-chain volume now stands at $416 billion. This is after a drop of about 16.5%.
  2. Stablecoins also record a 7.6% drop. This means that the stablecoin ecosystem now has an adjusted on-chain volume of $655.2 billion. Stablecoin issue supply also decreased by 0.7% and currently stands at $137.1 billion. Top stablecoin Tether (USDT) remains fairly stable at 47.8% while USDC drops to 33.2% in terms of market share.
  3. Also, both Bitcoin and Ethereum miner revenue recorded a decrease of 10.6%. This means that BTC miner revenue currently stands at $597 million. Ethereum (ETH) miner revenue, on the other hand, increased by 12.7% and is currently at $596 million. The increase in ETH miner revenue can be arguably attributed to the much-anticipated Ethereum Merge. Also, according to the Tweet, 63,254 ETH tokens (approximately $83.7 million) were burned in July 2022.

BTC miner revenue (Crypto metrics July 2022)

July NFT Metrics

The NFT ecosystem continues to grow exponentially. There’s also been an increasing influx of enthusiasts into the NFT ecosystem. NFT use cases are also on the rise with the inclusion of NFTS in the DeFi and GameFi ecosystems on the rise.

The tweet discloses a decrease in the monthly NFT marketplace volume on Ethereum (ETH) chain. The NFT marketplace volume decreased by about 26%. That is a drop-down to $678 million.

Monthly NFT Marketplace volume

Other Important July Metrics
  • Centralized exchanges (CEX) spot volume on Ethereum (ETH) is now at $632.7 billion after a 0.6% increase in July.
  • Grayscale Bitcoin (GBTC) records a whopping 52.9% decrease in its daily average volume and currently stands at $59 million.
  • Binance currently has a market share of 69.4%, followed by FTX with a 9% market share, Kraken at 2.8%, and Coinbase with a market share of 8.1%.
  • Also, ETH futures records a monthly volume increase of 15.3% and currently stands at $880 billion. CME Bitcoin futures open interest also increased by 22.5% and is currently at $1.69 billion.

In conclusion, there’s a lot of positive expectation trailing the upcoming Ethereum (ETH) Merge. Currently, the trading volume for ETH options is currently increasing. The same, however, cannot be said for Bitcoin (BTC) as its monthly options volume is currently down by 31.7%.

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