11 Charts Interpreting the October Crypto Market: Most Indicators Show a Strong Rebound

Author: The Block Research Director Lars

Compiled by: Jordan, PANews

For the cryptocurrency industry, the past October saw most indicators finally beginning to rebound. This article will review the state of the crypto market over the past month with 11 charts.

1. In October, the total on-chain transaction volume for Bitcoin and Ethereum increased by 28.1% after adjustments, reaching $420 billion, with Bitcoin's adjusted on-chain transaction volume rising by 32.1% and Ethereum by 20.9%.

1. The adjusted on-chain transaction volume of stablecoins rose by 8% in October, reaching $899 billion, while the issuance supply of stablecoins decreased by 0.7% to $149.3 billion, with USDT and USDC holding market shares of 79.5% and 16.9%, respectively.

1. Bitcoin miner revenue increased by 25.4% in October, reaching $1.02 billion. Additionally, Ethereum staking revenue also rebounded to $221.5 million, an increase of 5.8%.

1. In October, the Ethereum network burned a total of 41,648 ETH, worth approximately $105 million. Data shows that since the implementation of EIP-1559 in early August 2021, Ethereum has burned a total of about 4.43 million ETH, worth approximately $12.5 billion.

1. The on-chain NFT market for Ethereum saw a rebound in transaction volume in October, increasing by 26.5% to approximately $121.6 million.

1. The spot trading volume of compliant centralized exchanges (CEX) increased by 16.3% in October, reaching $843 billion.

1. In October, the net inflow of spot Bitcoin ETFs showed positive growth, with an inflow amount of approximately $5.3 billion. On October 30, the inflow for BlackRock's IBIT reached $872 million, setting a new record.

1. In terms of crypto futures, the open interest for Bitcoin futures increased by 22.9% in October; the open interest for Ethereum futures rose by 14.6%. In terms of trading volume, Bitcoin futures trading volume increased by 12.1% in October, reaching $1.25 trillion, while Ethereum futures trading volume rose by 4.8%.

1. In October, the open interest for Bitcoin futures on the Chicago Mercantile Exchange increased by 21.5%, reaching $12.5 billion (a historical high), and the daily average trading volume rose by 9.6% to approximately $5.3 billion.

1. The average monthly trading volume for Ethereum futures grew to $488.8 billion in October, an increase of 4.8%.

1. In the cryptocurrency options market, the open interest for Bitcoin options increased by 35.76%, while the open interest for Ethereum options remained unchanged. Additionally, in terms of trading volume, the monthly trading volume for Bitcoin options reached $54 billion, up by 39.8%; the trading volume for Ethereum options was $10.2 billion, an increase of 4.7%.