Falling prices defined the first day of the new week. With this blog post, we analyze which impact the recent dip had on the trading volume of crypto coins. Therefore, the blog post will review the trading volume of the top 50 cryptocurrencies between Monday, 26th June, 9 AM UTC, and 27th June, 9 AM UTC.
Crypto Coins — Top Volume Leaders of the Day
- Tether (USDT), the largest stablecoin by market capitalization, maintained its position as the token with the highest trading volume, with an impressive $24.95 billion. This marked a significant increase from the previous day’s volume of $21.67 billion.
- Bitcoin (BTC) followed closely in second place, experiencing a surge in volume from $12.65 billion to $15.25 billion. Ethereum (ETH) was not left out of the rally, recording a trading volume of $8.47 billion, up from the $6.78 billion volume the previous day.
- USD Coin (USDC), Binance USD (BUSD), and TrueUSD (TUSD) also retained their positions among the top volume leaders, displaying a trend that confirms the continuous demand for stablecoins in the market.
Among altcoins, Bitcoin Cash (BCH) held onto its 7th spot, followed by Wrapped Ethereum (WETH) at 8th. Ripple’s XRP also showed a noticeable increase in volume, moving up to the 9th position from the previous day’s 10th.
Crypto Coins — Top Movers of the Day
Some notable volume changes were observed among other altcoins as well.
For instance, Arbitrum (ARB), previously ranked 20th, showed remarkable improvement by securing the 11th position. Waves (WAVES) experienced a volume decline, moving from the 8th position to the 13th.
NEAR Protocol (NEAR) and Ethereum Classic (ETC) broke into the top 20, ranking 15th and 16th, respectively.
Not all tokens had positive trading volume shifts. For instance, Kava (KAVA), ranked 14th in trading volume the previous day, was absent from the top 50 on June 26th. ARPA and Ankr also fell out of the top 50.
The trading volume offers a snapshot of a certain token’s level of activity or liquidity in the market. The above analysis reveals the dynamic nature of the cryptocurrency market, with various tokens shifting in popularity and liquidity from day to day.
Many factors could drive these movements, such as shifts in trader sentiment, recent news events, or changes in the broader economic environment. It’s crucial for traders and investors to stay informed and keep track of these movements to make informed decisions.
Cryptocurrencies Trading Volume — Detailed Data
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