The Block Research Director: 12 Charts Overview of November's Cryptocurrency Market Performance

Written by: Lars, The Block Research Director

Compiled by: 0x11, Foresight News

The collapse of FTX and Alameda Research dominated the crypto market in November, driving the entire industry to de-risk while accelerating the trend of self-custody of assets. How significant was the impact of the collapse on the crypto market? We answer this with some data charts below.

1. The adjusted on-chain total transaction volume in November increased by 9.9% to $260 billion (BTC: -13.1%, ETH: +66.7%):

2. The adjusted on-chain transaction volume of stablecoins increased by 58.3%, reaching a historical high of $918.6 billion; the issued supply of stablecoins increased by 1.8% to $139.5 billion, with USDT's market share dropping to 50.5% and USDC's market share rising to 28.7%. The issued supply of stablecoins has decreased by 2.7% year-to-date:

3. BTC miner revenue decreased by 19.9% to $482.6 million, while ETH staker revenue decreased by 2.6% to $88.8 million:

4. A total of 53,155 ETH was burned in November, equivalent to $68.6 million. The spike in early May shown in the chart below was caused by the Otherside land NFT sales. Since Ethereum implemented EIP-1559 in early August 2021, a total of 2.75 million ETH has been burned, equivalent to $8.73 billion:

5. NFT transaction volume on Ethereum further decreased by 0.9% to $381.4 million: (Note: Since January, LooksRare's transaction volume has been readjusted to exclude wash trading.)

6. The spot trading volume of compliant centralized exchanges increased by 23.7% to $672.9 billion:

7. Notable centralized exchange market shares: Binance at 75.1%, Coinbase at 9.2%, Kraken at 3.6%, FTX at 3.1%:

8. GBTC's average daily trading volume increased by 108.6% to $74 million:

9. The open interest for BTC and ETH futures both decreased (BTC: -16.1%, ETH: -40%); the trading volume for both futures also declined, with BTC futures trading volume down 22.3% to $622 billion:

10. The open interest for CME Bitcoin futures contracts increased by 7% to $1.53 billion, and the average daily trading volume increased by 3.9% to $1.35 billion:

11. The monthly trading volume of ETH futures decreased by 6% to $593 billion:

12. In terms of options, the open interest for BTC and ETH options both decreased (BTC: -18.9%, ETH: -32.6%), and the trading volume for both options also declined. BTC options trading volume decreased by 5.7% to $13.3 billion, and ETH options trading volume decreased by 11.5% to $10 billion: