January 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 very strong increase of 94.4% to a new all-time high of $528.8 billion in January — 71.5% above the previous all-time high of $308.3 billion in January 2018. Overall, Bitcoin’s on-chain volume increased by 56.9% (from $189.5 billion to $297.4 billion), while Ethereum’s on-chain volume increased by 180.7% (from $82.4 billion to $231.4 billion).

In January, Bitcoin’s on-chain volume was 1.3 times higher than Ethereum’s.