In the fast-paced and ever-changing world of cryptocurrencies, keeping a finger on the pulse of market activity is crucial. One critical measure of this activity is trading volume. High trading volumes can indicate a high level of interest in a given cryptocurrency, potentially signaling bullish or bearish trends. Let’s take a look at the cryptocurrencies with the highest trading volumes in the last 24 hours and how they compare to the previous day.
Stablecoins Leading the Charge
As expected, Tether (USDT), the largest stablecoin by market cap, dominated the trading volume with an impressive $39.5 billion, a sizable increase from the previous day’s $36.2 billion. Other stablecoins also maintained a strong presence. USD Coin (USDC) and Binance USD (BUSD) landed in the fourth and fifth positions, respectively, with increased trading volume. Meanwhile, TrueUSD (TUSD) and USD Coin Bridged (USDCE) also saw their volumes rise, maintaining their positions in the top 25.
The Titans: Bitcoin and Ethereum
The two behemoths of the crypto market, Bitcoin (BTC) and Ethereum (ETH), followed USDT in the second and third positions. Bitcoin’s trading volume stood at $22.4 billion, experiencing a slight decrease from the previous day, while Ethereum’s volume witnessed a significant increase, hitting $12 billion compared to the previous day’s $9.3 billion.
Among altcoins, Litecoin (LTC) moved up in ranking from seventh to sixth position with its trading volume rising from $2.24 billion to $3.2 billion. Notably, Ethereum Classic (ETC) saw its volume nearly double, catapulting it to the 11th position from the previous 12th spot.
Two new entries into the list were eCash (XEC) and Aptos (APT), securing 12th and 32nd positions, respectively, demonstrating a significant increase in trading interest.
Interestingly, some of the more popular cryptocurrencies saw a decrease in their trading volumes. Cardano (ADA), Binance Coin (BNB), and Dogecoin (DOGE) all experienced a slight dip.
A Look at DeFi and Layer-2 Solutions
DeFi and Layer-2 solutions continue to have a strong presence, indicating the sector’s ongoing popularity. Arbitrum (ARB), a Layer-2 solution, saw a slight increase in volume. Polygon (MATIC), a popular Ethereum scaling solution, also increased its volume, as did the DeFi tokens Aave (AAVE) and Compound (COMP).
Top 50 Cryptocurrencies By Volume
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