PANews reported on February 4 that according to a post by The Block's research director @lars0x, several indicators in the crypto market hit record highs in January 2025, with the adjusted total on-chain transaction volume falling 10.5% to $600 billion (BTC: -4.4%, ETH: -23%). The adjusted on-chain transaction volume of stablecoins fell 6.3% to $1.32 trillion, and the issued supply increased 3.1% to a new high of $175.2 billion, of which USDT accounted for 78% and USDC accounted for 19.6%.

BTC miner revenue fell 2.8% to $1.4 billion in January, while ETH staker revenue fell 9.7% to $309 million. A total of 33,906 ETH were destroyed in January, equivalent to $113.2 million. Since the implementation of EIP-1559 in early August 2021, a total of 4.56 million ETH have been destroyed, equivalent to $12.9 billion. Monthly NFT market volume on Ethereum fell 41.3% to $519.2 million.

Legal CEX spot volume fell 18.2% to $1.65 trillion in January, with net monthly flows of +$4.9 billion for all BTC spot ETFs. Bitcoin futures open interest increased 6%, and Ethereum futures open interest increased 1% to a new high. BTC monthly futures volume fell 5.9% to $1.84 trillion. CME Bitcoin futures open interest increased 3% to a new high of $18.2 billion (ADV increased 1.3% to $10.27 billion, another new high). ETH futures monthly volume fell 20.7% to $817 billion. Bitcoin options open interest increased 61%; Ethereum options open interest increased 30%. BTC monthly options volume increased 12% to $89 billion, and ETH monthly options volume decreased 16.2% to $19.4 billion.