July 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 another strong decline of 29.3% to $405.1 billion in July. Overall, Bitcoin’s on-chain volume declined by 27.4% (from $292.3 billion to $212.2 billion), while Ethereum’s on-chain volume declined by 31.1% (from $280 billion to $192.9 billion).

In July, Bitcoin’s on-chain volume exceeded Ethereum’s by 1.1 times.