These Three Cryptos Account For 90% Of Total Trading Volume – Hint: One Is Tether

These Three Cryptos Account For 90% Of Total Trading Volume – Hint: One Is Tether
фото показано с : zycrypto.com

2020-5-14 14:25

Bitcoin has remained the most popular coin since the mining of the genesis block. The pioneer cryptocurrency has been sharing the spotlight with two other cryptocurrencies recently, at least in terms of trading volumes.

BTC, ETH, USDT Dominate 90% Of Daily Trading Volume

Bitcoin, dollar-backed Tether (USDT) and Ethereum, accounted for 90% of the total trading volume on crypto exchanges this year. The other cryptocurrencies in the top 10 enjoyed only a small portion of the usage that BTC, ETH, and USDT got every day.

Statistics collected by Messari indicates that this marks a 75% increase from the same time last year.

Trading volume is a primary indicator of real-world use. A high volume shows that the market is liquid, which means that crypto-assets can be traded without having a considerable impact on the market price and with as little friction as possible.

Tether: The Unlikely Winner

Despite the criticisms of manipulation and opaqueness leveled against Tether, the stablecoin has continued to rule the roost in terms of trading volumes, even overtaking BTC which holds 67.4% of the total crypto market share.

Amid global market turmoil caused by the COVID-19 pandemic, controversial stablecoin USDT has emerged as the biggest winner. After the Black Thursday market downturn, most investors turned to Tether to hedge against volatility as its value is said to be equivalent to $1 most of the time.

Since the market reached the bottom in mid-March, the total amount of USDT has more than doubled from $4.3 billion to $8.7 billion, registering a 102% increase. 

Moreover, Tether’s market cap has been on a steady climb thanks to the constant printing. The stablecoin is now threatening to usurp Ripple’s XRP as the world’s third-largest cryptocurrency as it has a market cap of $8.7 billion -only $80 million shy of XRP’s market capitalization.

Ethereum Comes In Third Place

Ethereum is the third-largest cryptocurrency with regards to daily trading volumes. Notably, there has been amped-up buzz surrounding the launch of the much-delayed Phase 0 of ETH 2.0. Most recently during the Consensus: Distributed virtual conference, Vitalik Buterin apparently confirmed that the project is set to launch in July. 

In a tweet, however, Buterin claimed to have misheard the question asked, noting that ETH 2.0 will not be launched by July. 

Nonetheless, despite the persistent delays with the ETH 2.0, ethereum remains the third-most traded cryptocurrency.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Open Trading Network (OTN) на Currencies.ru

$ 0 (+0.67%)
Объем 24H $0
Изменеия 24h: 1.44 %, 7d: 12.76 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0048939 (-100%)

trading sharing spotlight genesis pioneer cryptocurrency block

Источник: zycrypto.com

trading sharing → Результатов: 47


Фото:

Binance Will Pay Users $220K To Test Its Bitcoin Futures Platforms

Cryptocurrency exchange Binance is planning to pay users to decide how its new Bitcoin futures trading platform should operate. Binance: Two Platforms, 100,000 BNB In a blog post issued on September 2, the exchange said it had created two standalone versions of a futures trading platform, and would select the final option via a user competition.

2019-9-3 15:51


Recent Bitcoin Stability Amid Crypto Market Volatility is Paving the Path to a Positive Price Trend

This weekend marked the speculation for what caused Bitcoin prices to drop. While it was found that a sell order of 5000 BTC on BitStamp caused BTC’s overall price to drop. It ended up having a domino effect on BitMEX, trading platform that was criticized for poor liquidity. In addition, many crypto fanatics were sharing […]

2019-5-21 02:57


Tron [TRX]’s Newly launched Decentralized Exchange is Bullishly Exploding

Tron has found a way of making the bearish market impenetrable to other important market successes other than its trading price. It has been a week-long of win galore for Tron’s Justin Sun as he seems unable to contain his excitement whilst sharing the success of his token and every other Tron-related project, one of […] The post Tron [TRX]’s Newly launched Decentralized Exchange is Bullishly Exploding appeared first on ZyCrypto.

2018-11-17 20:43


Фото:

AMA With Origin Team Reveals Plans for Decentralized Sharing Economy

Matt Liu, Josh Fraser and former PayPal head Yu Pan want to bring the blockchain to the sharing economy. The trio is devising a platform with an emphasis on inclusive, peer-to-peer service hubs designed to decentralize the same consumer cost-friendly business models that have made companies like Airbnb, Uber and Lyft so popular in recent years.

2018-8-16 23:25


trade.io Launches Unique, Community-Led Crypto-to-Crypto Exchange

New innovative exchange backed by a $50 million liquidity pool providing revenue sharing on a daily basis opens its doors to the market Lugano, Switzerland – 25th July 2018 – trade.io, the next-generation blockchain-based financial trading platform, has officially launched its one-of-a-kind, highly customizable crypto-to-crypto exchange which will initially offer the following tradable instruments: BTC […]

2018-7-26 00:42


Engrema ICO

Engrema is an all-in-one solution for payment receiving and making, profit sharing, trading and blockchain hosting. We are currently developing our Engrema blockchain which will act as a host to DApps and new projects and we would ensure that the airdrops are processed to our loyal token holders.

2018-7-1 11:11


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

USDT To The Moon? Tether Inches Closer To $100 Billion Market Cap

The cryptocurrency world watches with a mix of intrigue and apprehension as Tether (USDT), the most prominent stablecoin, inches closer to a seemingly mythical $100 billion market capitalization. This monumental milestone signifies Tether’s undeniable market dominance, but it also casts a spotlight on the regulatory clouds gathering around the stablecoin and the potential implications for […]

Stablecoin Supply Rose By Over 300% In 2021 – Here’s What Drives Their Meteoric Growth

As the general cryptocurrency ecosystem grew, stablecoins tapped into the spurt to expand by over 300% in the year. The growth of stablecoins in the calendar year is intricately tied to the general popularity of cryptocurrencies, Tether’s USDT and Circle’s USDC are the largest stablecoins in the market with a combined market capitalization of $118 […]

How The US Treasury May Cause More Instability For Stablecoins

A back-and-forth on Stablecoin regulation between the US Congress and the US Treasury department has left the fate of Stablecoins hanging in the balance. Nellie Liang, the US Treasury secretary, last week, called out the US congress for what she believes is a marked sloppiness in the formulation of regulations regarding Stablecoins. Liang expressed the intent […]