Data: In January, the trading volume of stablecoins on the chain decreased by 10.5%, and the trading volume of legal CEX spot decreased by 18.2%.
Bitget2025/02/04 06:06
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On February 4th, according to a post by The Block Chief Research Officer @lars0x, several indicators of the cryptocurrency market reached historic highs in January 2025. The adjusted total on-chain trading volume decreased by 10.5% to $600 billion (BTC: -4.4%, ETH: -23%). The adjusted on-chain trading volume of stablecoins decreased by 6.3% to $1.32 trillion, and the supply of publishers increased by 3.1% to reach a new high of $175.20 billion, with USDT accounting for 78% and USDC accounting for 19.6%.
BTC miners' income fell 2.8% to $1.40 billion in January, while ETH stakers' income fell 9.7% to $309 million. A total of 33,906 ETH was destroyed in January, equivalent to $113.20 million. Since the implementation of EIP-1559 in early August 2021, a total of 4.56 million ETH has been destroyed, equivalent to $12.90 billion. Monthly NFT market trading volume on Ethereum fell 41.3% to $519.20 million.
Legal CEX spot trading volume fell 18.2% to $1.65 trillion in January, and the monthly net flow of all BTC spot ETFs was + $4.90 billion. Bitcoin futures non-position squaring contracts increased by 6%, and Ethereum futures non-position squaring contracts increased by 1% to reach new highs. BTC monthly futures trading volume fell by 5.9% to $1.84 trillion. CME Bitcoin futures non-position squaring contracts increased by 3% to a new high of $18.20 billion (daily average trading volume increased by 1.3% to $10.27 billion, reaching a new high). ETH futures monthly trading volume fell by 20.7% to $817 billion. Bitcoin options non-position squaring contracts increased by 61%; Ethereum options non-position squaring contracts increased by 30%. BTC monthly options trading volume increased by 12% to $89 billion, while ETH monthly options trading volume decreased by 16.2% to $19.40 billion.
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