BTC pairings were found to comprise approximately 33% of the roughly “$12 [billion] in traded volume at press time for 18 June 2018.” ETH pairings represented 12% of total volume, followed by BCH with 3%, and XRP and LTC with 2% each.
In addition, USDT pairings were found to comprise 17% of the total trade volume of the cryptocurrency markets.
The combined volume of all other altcoin markets listed on Coinmarketcap was found to have constituted just 31% of trade volume.
The report also found that 49.3% of altcoin markets (803 tokens) had produced less than $10,000 in trade volume, and that 67.3% (1,096 tokens) posted less than $100,000 in trade volume.
Just 15.3% cryptocurrencies produced a trade volume of $1 million or higher, and only 6.3% of markets produced $5 million or more in 24-hour trade volume.
Analysis conducted by Diar has indicated that only a minority of cryptocurrencies represent the vast majority of trading volume in the virtual currency markets – with only 0. 36% of tradable cryptocurrencies found to have comprised 69% of the total trade volume of the entire cryptocurrency markets.
While bears continue to tighten their grip, the primary story is no longer about price charts. Market players now want to know where funds are moving. This has been among the key indicators for detecting potential sentiment shifts amid broader market uncertainty.
The cryptocurrency market recovery has stalled over the past few hours, with Bitcoin failing to overcome the $93k resistance level. Ripple (XRP) is trading under pressure at press time and risks dropping below the $2 psychological level if the bearish trend persists.
Cryptocurrencies remained downbeat on Friday, December 5, with sentiment deteriorating across leading assets. Meanwhile, the latest ETF flow stats confirm this weakness, with Bitcoin and Ethereum exchange-traded products struggling as new products attracted fresh funds.
Ripple (XRP) seems to have lost steam after recording gains over the past two days. The second-largest altcoin by market cap is trading at around $2. 17, with the bulls pushing to regain control of the trend.
Bitcoin traded just above $93,416 on Thursday as expectations mounted that the US Federal Reserve would cut interest rates next week. During the morning session, the cryptocurrency dipped to $92,612 before climbing to an intraday high of $94,002, reflecting renewed momentum after several weeks of turbulence.
