Cryptocurrency on-chain transaction volume hits record high after May correction

According to data from The Block Research, multiple indicators set new records in May. The adjusted on-chain transaction volume of cryptocurrencies increased by 35.4% to a record high of $1.07 trillion. Ethereum's adjusted on-chain transaction volume and miner revenue surpassed Bitcoin.

The supply of stablecoins increased by 26.2% to a record high of $101.6 billion. Spot trading volume on centralized exchanges increased by 38% to a record high of $2.18 trillion.