Chart of the Day
The percentage of revenue decline pretty much sums up the crypto market in June. Most metrics saw severe drops — the total revenue of Bitcoin miners fell dramatically by 42% as the price of Bitcoin retested key support level at $30k and trading volume flattened. Ethereum miners experienced revenue shrinkage of a similar magnitude. On top of the abysmal price action and trading volume, the 53% decline is also attributed to gas fee nosediving to a six-month low. However, the silver lining remains that both Bitcoin and Ethereum miners are still above the December 2020 levels, when the latest bull run just began to take off.