The world of cryptocurrencies, characterized by intense volatility and exponential growth, has witnessed intriguing changes in trading volume over the last 24 hours. With constant variations in values and rankings, let’s examine the trading volume dynamics of the 50 largest cryptocurrencies.
Top 1o Crypto Coins By Volume on 28th June 2023
Crypto Coin Volume Analysis — Highlights
Tether Maintains Its Dominance
Tether (USDT), the king of stablecoins, has once again proven its dominance by leading the trading volumes for the last few days. On June 27, Tether’s trading volume was around $24.95 billion, increasing slightly to approximately $25.02 billion on June 28.
The Battle of the Titans: Bitcoin and Ethereum
In the high-octane race of cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) hold strong positions, landing in second and third place for two consecutive days. However, worth mentioning that Bitcoin has a trading volume that is roughly twice the size of Ethereum — at least at the moment.
Bitcoin’s trading volume rose from around $15.25 billion on June 27 to approximately $17.30 billion on June 28. Ethereum, on the other hand, witnessed a slight decrease in trading volume, dropping from about $8.47 billion to roughly $8.22 billion.
USD Coin and TrueUSD: Stablecoins on the Rise
USD Coin (USDC) and TrueUSD (TUSD) show the increasing popularity of stablecoins in the crypto market. While USDC witnessed a rise in trading volumes from roughly $3.75 billion to around $3.94 billion, TUSD surged from about $2.59 billion to $3 billion over the same period.
Binance USD: A Slight Dip in Volume
Binance USD (BUSD), which held the fifth position on both days, experienced a slight drop in trading volume, falling from approximately $2.70 billion to $2.53 billion. Nevertheless, it continues to be one of the preferred choices for traders.
Bitcoin Cash: Stable Yet Dynamic
Bitcoin Cash (BCH), holding steady at the seventh position, experienced a decrease in trading volumes from about $1.43 billion to around $1.32 billion. The crypto coin climbed in the ranking due to various DEX-listing news. Therefore, it will be interesting to see how the trading volume develops during the next few days.
Other Popular Crypto Coins
As the world slowly approaches DeFi, coins like WETH and Arbitrum (ARB) are gaining attention. WETH maintained its position at number eight, seeing an increase in trading volume from roughly $1.15 billion to $1.20 billion. Arbitrum, however, jumped from the 11th to the 12th position, with trading volumes falling from around $498 million to approximately $325 million.
XRP and Litecoin (LTC) saw decreased trading volumes. Dogecoin (DOGE), the meme coin turned heavyweight, maintained its trading volume at around $233 million.
Stellar (XLM) and Chainlink (LINK) stood their ground in the top 25, with Stellar moving from the 21st to the 20th position and Chainlink moving up three places to the 25th.
From Obscurity to Prominence: Blur and Sui
Blur (BLUR) and Sui (SUI) marked their presence by breaking into the top 30. Both showed increased trading volumes, hinting at their growing popularity among traders.
Hifi Finance (HIFI) and Lido wstETH (WSTETH) made impressive entries into the top 30, displaying the dynamic nature of the crypto market and traders’ willingness to experiment with new coins.
Crypto Coin Volume 28th June 2023 — Detailed Data
|19||USDCE||USD Coin Bridged||209,678,198|
Ultimately, the last 24 hours in the crypto universe have proven to be as dynamic and unpredictable as expected. While stablecoins and industry stalwarts like Bitcoin and Ethereum continue to dominate, the emergence of newer coins and the rise of DeFi tokens signal a diversification in the trading preferences of crypto enthusiasts.
Trading volumes mirror market activity, reflecting traders’ confidence in different cryptocurrencies. As the crypto market matures, we can expect more surprising entries and exits, adding to the grand dance of numbers and values. Whether you’re a seasoned trader or a curious observer, these trading volume dynamics offer a fascinating insight into the ever-evolving world of cryptocurrencies.