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

Total adjusted on-chain volume, which is a proxy for economic throughput, saw a moderate increase of 11.6% to a new all-time high of $590 billion in February. Overall, Bitcoin’s on-chain volume increased by 7.4% (from $297.4 billion to $319.3 billion), while Ethereum’s on-chain volume increased by 17.2% (from $231.4 billion to $271.1 billion).

In February, Bitcoin’s on-chain volume was 1.2 times higher than Ethereum’s.