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.
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XRP price moved into a correction after falling by over 15% from its highest level this year despite the encouraging Ripple news. Ripple (XRP) token dropped to $2.0520, much lower than the year-to-date high of $2.4. Its market capitalization has…
US Senate debate over a bill called the Clarity Act has reignited discussion about XRP and other crypto products, and how they might be treated under US rules. Related Reading: Ethereum Staking Hits Record Levels As Buterin Urges Builders To Deliver Real Apps Reports have disclosed that the bill could give clearer status to tokens that back US-listed ETFs, moving them closer to commodity-style treatment.
XRP has become the default trading chip of South Korea, bypassing Bitcoin and Ethereum to dominate the country’s high-velocity retail market. While institutional capital worldwide typically gravitates toward Bitcoin as a store of value, South Korean trading patterns tell a different story.
For a market that usually moves in one direction, some voices are starting to say this time might look a little different. Canary Capital CEO Steven McClurg said XRP could move on a different path from Bitcoin this year, pointing to enterprise use cases as a key reason.
The Ripple token, XRP, is currently facing a price drop, even though activity from large holders, or “whales,” on Binance has slowed down. Data from [...]
