Cryptocurrency
Macro Analysis
Markets
February 2, 2021, 10:22AM EST
• 7 min read

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

Lars Hoffmann

Quick Take

  • Several metrics recorded record numbers in January. In many cases, January alone accounted for about 40-50% of total 2020 volume. 
  • Total adjusted on-chain volume saw a very strong increase of 94.4% to a new all-time high of $528.8 billion in January.
  • Adjusted on-chain volume of stablecoins increased by 73.1%, to a new all-time high of $308.7 billion in January.
  • Centralized exchange spot trading volumes increased by 138.7%, to a new all-time high of $916.6 billion in January.
  • Ethereum miners revenue increased by 123.3%, to a new all-time high of $829.6 million in January.

Join The Block Research for exclusive research like this

Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.

Already a Research Member? Login Here