The cryptocurrency market continued its growth momentum in March, with most industry indicators reaching new historical highs. This article will use 12 charts to analyze the market conditions of the past month.
1. In March, the total on-chain transaction volume of Bitcoin and Ethereum, after adjustments, increased by 59.3%, reaching $587 billion. The on-chain transaction volume of Bitcoin increased by 59.5%, while Ethereum’s on-chain transaction volume increased by 59.1%.
2. The on-chain transaction volume of stablecoins, after adjustments, experienced a significant increase in March, reaching $893.8 billion, with a growth rate of 41.3%. The supply of issued stablecoins also increased by 6.2% to reach $137.4 billion. Among them, USDT accounted for 76.3% of the market share, while USDC’s market share slightly increased to 19.7%.
3. Bitcoin miner income reached a record high of $2.01 billion in March, with a growth rate of 44.9%. In addition, Ethereum staking income saw a significant increase of approximately 44.5%, reaching $309.3 million.
4. In March, the Ethereum network burned 147,620 ETH, equivalent to $543 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has burned a total of approximately 4.23 million ETH, worth about $11.84 billion.
5. The on-chain NFT market transaction volume on Ethereum decreased by 3.6% in March, reaching approximately $726 million.
6. The spot trading volume of centralized exchanges (CEX) continued to rise in March, with an astonishing growth rate of 115.8%, reaching $14.4 trillion.
7. The market share rankings of major cryptocurrency exchanges in the spot market in March are as follows: Binance with 78.5% (an increase compared to January and February), Coinbase with 10.9%, Kraken with 3.4%, and LMAX Digital with 1.3%.
8. In terms of cryptocurrency futures, the open interest of Bitcoin futures increased by 33.2% in March, while the open interest of Ethereum futures increased by 18.6%. In terms of futures trading volume, Bitcoin futures saw a growth rate of 80.8% in March, reaching $2.02 trillion.
9. The open interest of Bitcoin futures on the Chicago Mercantile Exchange (CME) increased by 49.5% in March, reaching $11.7 billion, setting a new historical high. The daily average volume also increased by 114.8% to approximately $6.8 billion, also a historical high.
10. The monthly average trading volume of Ethereum futures reached $89.38 billion in March, with a growth rate of 60.9%.
11. In terms of cryptocurrency options, the open interest of Bitcoin options decreased by 1.9% in March, while the open interest of Ethereum options also decreased by 6.6%. In addition, both Bitcoin and Ethereum options trading volumes reached new highs on March 29. The trading volume of Bitcoin options reached $46.75 billion, with an increase of 18.5%, while the trading volume of Ethereum options reached $20.99 billion, with an increase of 23.6%.
Tags: 2023 market, Ethereum, mining, options, futures, Bitcoin, miners, market trends.
Source link: [https://foresightnews.pro/article/detail/57259](https://foresightnews.pro/article/detail/57259)
Note: The views expressed in this article do not constitute investment advice.
Original article link: [https://www.bitpush.news/articles/6565082](https://www.bitpush.news/articles/6565082)
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