July by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

Quick Take

• Most metrics recorded continued declines in July. Overall volatility seems to have based.
• Total adjusted on-chain volume decreased by 29.3% to $405.1 billion.
• Stablecoin supply grew slightly by 4.5% to a new all-time high of $110.1 billion. Notably, Tether did not issue any more USDT for the second consecutive month.
• Centralized exchange spot trading volumes declined by 32% to $651.2 billion.

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