{"id":18346,"date":"2024-11-05T17:19:01","date_gmt":"2024-11-05T15:19:01","guid":{"rendered":"https:\/\/forklog.com\/en\/analyst-highlights-growth-in-on-chain-metrics-for-bitcoin-and-ethereum\/"},"modified":"2024-11-05T17:19:01","modified_gmt":"2024-11-05T15:19:01","slug":"analyst-highlights-growth-in-on-chain-metrics-for-bitcoin-and-ethereum","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analyst-highlights-growth-in-on-chain-metrics-for-bitcoin-and-ethereum\/","title":{"rendered":"Analyst Highlights Growth in On-Chain Metrics for Bitcoin and Ethereum"},"content":{"rendered":"<p>A researcher from The Block, known by the pseudonym Lars, has shared a series of posts on X illustrating the growth of network metrics for stablecoins, the two most capitalized cryptocurrencies, NFTs, and other key market segments.<\/p>\n<p><!--more--><\/p>\n<p>Last month, the adjusted volume of on-chain value transferred in the Bitcoin and Ethereum networks increased by 28.1% to $420 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/12 October summary ? <\/p>\n<p>Most metrics increased.<\/p>\n<p>Total adjusted on-chain volume increased by 28.1% to $420B (BTC: +32.1%, ETH +20.9%): <a href=\"https:\/\/t.co\/Y2kK1XEayw\">pic.twitter.com\/Y2kK1XEayw<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430008947388615?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In October, the metric for the first cryptocurrency increased by 32.1%, while Ethereum rose by 20.9%.<\/p>\n<h2 class=\"wp-block-heading\">Stablecoins<\/h2>\n<p>The adjusted transaction volume of major stablecoins grew by 8% in October to $899 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">2\/12 Adjusted on-chain volume of stablecoins increased by 8% to $899B; Issued supply decreased by 0.7% to $149.3B, with USDT at 79.5% and USDC at 16.9% respective market share: <a href=\"https:\/\/t.co\/XjCvONZwvG\">pic.twitter.com\/XjCvONZwvG<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430016295748096?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>USDT&#8217;s share in the segment was 79.5%; USDC accounted for 16.9%.<\/p>\n<h2 class=\"wp-block-heading\">Miner Revenues<\/h2>\n<p>Last month, total miner revenue increased by 25.4%, reaching $1.02 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">3\/12 BTC miner revenue increased by 25.4% to $1.02B, while ETH staker revenue increased by 5.8% to $221.5M: <a href=\"https:\/\/t.co\/SZ4gBOphHT\">pic.twitter.com\/SZ4gBOphHT<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430022654345647?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, Ethereum network participants saw staking revenues increase by 5.8% to $221.5 million.<\/p>\n<h2 class=\"wp-block-heading\">ETH Burning<\/h2>\n<p>In October, 41,648 ETH, equivalent to $105 million, was burned.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">4\/12 A total of 41,648 ETH, equivalent to $105M, was burned. Since the implementation of EIP-1559 in early August 2021, a total of 4.43M ETH, equivalent to $12.5B, has been burned: <a href=\"https:\/\/t.co\/4I3JYCTUmG\">pic.twitter.com\/4I3JYCTUmG<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430029591748672?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Since the implementation of EIP-1559 in August 2021, a total of 4.42 million ETH ($12.5 billion) has been removed from circulation.<\/p>\n<h2 class=\"wp-block-heading\">NFT<\/h2>\n<p>The monthly trading volume of major NFT marketplaces like Blur and OpenSea increased by 26.5% in October, reaching $121.6 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">5\/12 Monthly NFT marketplace volume on Ethereum increased by 26.5% to $121.6M: <a href=\"https:\/\/t.co\/LyWLSyWABN\">pic.twitter.com\/LyWLSyWABN<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430035509829927?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">CEX<\/h2>\n<p>The total turnover of centralized crypto exchanges grew by 16.3% to $843 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">6\/12 Legitimate CEX spot volume increased by 16.3% to $843B: <a href=\"https:\/\/t.co\/ak5aheC4Oj\">pic.twitter.com\/ak5aheC4Oj<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430041549623513?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">ETF<\/h2>\n<p>In October, the net inflow into spot Bitcoin ETFs amounted to $5.3 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">7\/12 Monthly net flows of all BTC spot ETFs came in at positive $5.3B. IBIT recorded a new ATH inflow of $872M on Oct 30: <a href=\"https:\/\/t.co\/TaVIFFiQEA\">pic.twitter.com\/TaVIFFiQEA<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430047560097979?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among individual funds, BlackRock&#8217;s IBIT recorded a record inflow of $872 million on October 30.<\/p>\n<h2 class=\"wp-block-heading\">Futures<\/h2>\n<p>Open interest in Bitcoin futures increased by 22.9% last month; for Ethereum-based contracts, it rose by 14.6%.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">8\/12 Futures: Open interest: BTC new ATH: +22.9%, ETH: +14.6%; Trading volume: BTC monthly futures volume increased by 12.1% to $1.25T (ETH +4.8%): <a href=\"https:\/\/t.co\/9D17rB71Qv\">pic.twitter.com\/9D17rB71Qv<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430053541224505?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Trading volume of derivatives based on digital gold increased by 12.1%. For Ethereum futures, it rose by 4.8%.\u00a0<\/p>\n<p>Open interest in the corresponding derivatives on the regulated exchange <span data-descr=\"Chicago Mercantile Exchange\" class=\"old_tooltip\">CME<\/span> increased by 21.5%, reaching a new all-time high of $12.5 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">9\/12 CME&#8217;s open interest of Bitcoin futures increased by 21.5% to a new ATH of $12.5B (daily avg volume +9.6% to $5.3B): <a href=\"https:\/\/t.co\/25m5ZWseto\">pic.twitter.com\/25m5ZWseto<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430060033913296?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">Options<\/h2>\n<p>Open interest in Bitcoin options increased by 35.7% in October, while for Ethereum-based contracts, it remained unchanged.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">11\/12 Options: Open interest: BTC: +35.7%, ETH: flat. BTC monthly options volume increased by 39.8% to $54B (ETH: +4.7% to $10.2B): <a href=\"https:\/\/t.co\/IVbNcxB1r5\">pic.twitter.com\/IVbNcxB1r5<\/a><\/p>\n<p>\u2014 Lars (@lars0x) <a href=\"https:\/\/twitter.com\/lars0x\/status\/1853430072046436628?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The monthly trading volume of derivatives based on digital gold increased by 39.8%, reaching $54 billion (Ethereum \u2014 +4.7%, to $10.2 billion).\u00a0<\/p>\n<p>Earlier, CryptoQuant analysts noted a rise in on-chain activity among retail Bitcoin investors to March peaks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A researcher from The Block, known by the pseudonym Lars, has shared a series of posts on X illustrating the growth of network metrics for stablecoins, the two most capitalized cryptocurrencies, NFTs, and other key market segments.<\/p>\n","protected":false},"author":1,"featured_media":18345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,569,46,1213,1268,807],"class_list":["post-18346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-etf","tag-ethereum","tag-nft","tag-on-chain-analysis","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18346"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18345"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}