May Crypto Market Data Analysis: Ethereum Multiple Indicators Hit New Highs

In May, most indicators in the crypto market showed a downward trend. This article will provide an in-depth analysis of the dynamics of the crypto market over the past month through data analysis.

1. On-chain transaction volume declines In May, the adjusted on-chain total transaction volume of Bitcoin and Ethereum fell by 4.4% overall, to $390 billion. Among them, the adjusted on-chain transaction volume of Bitcoin decreased by 4.7%, and the on-chain transaction volume of Ethereum decreased by 3.9%.

2. Stablecoin market changes In May, the on-chain trading volume of stablecoins decreased significantly by 20.5%, dropping to $879 billion. The supply of issued stablecoins slightly increased by 0.5%, reaching $141.9 billion. The market share of USDT rose to 78.8%, while the market share of USDC slightly decreased to 17.1%.

3. Miner Income and Staking Rewards Bitcoin miners' income fell sharply by 46% in May, to $963 million. In contrast, Ethereum staking income rose by 4.1%, reaching $267 million.

4. Ethereum burn amount In May, the Ethereum network destroyed a total of 26,747 ETH, worth approximately 91.7 million USD. Since the implementation of EIP-1559 in August 2021, Ethereum has cumulatively destroyed around 4.3 million ETH, worth approximately 12.1 billion USD.

5. The NFT market continues to decline. In May, the trading volume of the Ethereum chain NFT market dropped significantly by 27.8%, falling to approximately 344 million USD.

6. Centralized exchange trading volume decline The spot trading volume of compliant centralized exchanges fell by 22.5% in May, to $689 billion.

7. Exchange Market Share May's main crypto market exchange spot market share rankings: a certain trading platform 79.4% (up from April), a certain trading platform 10.1%, a certain trading platform 3.4%, a certain trading platform 1.8%.

8. Futures Market Performance In May, the open interest of Bitcoin futures increased by 12.9%. Benefiting from the approval of the spot Ethereum ETF by US regulators, the open interest of Ethereum futures surged by 52%, reaching a historic high. The trading volume of Bitcoin futures decreased by 21% to $1.26 trillion, while the trading volume of Ethereum futures slightly increased by 0.2%.

9. CME Bitcoin Futures Data In May, the open interest of Bitcoin futures on the Chicago Mercantile Exchange increased by 15.9%, reaching 10.3 billion USD. The average daily trading volume decreased by 9%, to approximately 4.35 billion USD.

10. Ethereum futures trading volume In May, the average monthly trading volume of Ethereum futures slightly increased by 0.2%, reaching 69.2 billion USD.

11. Options Market Dynamics In May, the open interest for Bitcoin options rebounded by 30.5%, while the open interest for Ethereum increased by 41.4%. The trading volume of Bitcoin options reached $46.8 billion, a slight decrease of 1.2%; the trading volume of Ethereum options reached $31.4 billion, an increase of 19.2%, setting a new historical high.

Overall, the crypto market in May showed a complex situation. Although most indicators declined, Ethereum performed well in certain areas, especially benefiting from the approval of spot ETFs, with several indicators hitting historical highs. This reflects the dynamism of the crypto market and the potential impact of changes in the regulatory environment on the market.