In the volatile and ever-evolving world of cryptocurrencies, a single day can dramatically change the market’s landscape. Yesterday was no exception. We will take a look at the top 50 cryptocurrencies by their 24-hour trading volumes and spotlight the significant movers and shakers.
Crypto Trading Volume Analysis — Highlights
“Stability” in the Spotlight: Tether Rules the Day
Yesterday, the stablecoin, Tether (USDT), solidified its pole position, with a trading volume increase from $25,019,612,706 to a colossal $36,212,732,905. This rise underlines the key role stablecoins play in offering liquidity and hedging opportunities in the volatile crypto markets. Similarly, USD Coin (USDC) also witnessed an increase in trading volume, suggesting a growing need for price-stable assets.
The Unshaken Titans: Bitcoin and Ethereum
As always, Bitcoin (BTC) and Ethereum (ETH) have maintained their significant roles. Bitcoin’s trading volume increased from $17,308,036,431 to $22,940,485,037, reinforcing its dominance as a widely traded digital asset. Ethereum, in the third position, also witnessed a surge in trading volume from $8,226,125,348 to $9,355,437,341.
Trading Volume Top 10 Crypto Coins
| Position | Symbol | Name | Volume |
|---|---|---|---|
| 1 | USDT | Tether | 36,212,732,905 |
| 2 | BTC | Bitcoin | 22,940,485,037 |
| 3 | ETH | Ethereum | 9,355,437,341 |
| 4 | USDC | USD Coin | 5,129,498,330 |
| 5 | BUSD | Binance USD | 3,442,981,126 |
| 6 | BCH | Bitcoin Cash | 2,668,722,260 |
| 7 | LTC | Litecoin | 2,244,461,191 |
| 8 | TUSD | TrueUSD | 2,047,102,375 |
| 9 | WETH | WETH | 1,478,751,260 |
| 10 | XRP | XRP | 1,127,298,161 |
The Ascent of Altcoins: A Rise in Variety
Other altcoins also saw impressive increases in volume. Binance USD (BUSD) rose from the sixth to the fifth spot, marking an increase in volume from $2,533,310,616 to $3,442,981,126. Litecoin (LTC) climbed from the tenth to the seventh position, with an increase in volume from $450,926,580 to $2,244,461,191.
Surprising Performers: The Underdogs Gaining Ground
A few less well-known tokens also demonstrated noteworthy performance. One such standout was Aptos (APT), which climbed to the 31st spot with a volume of $194,288,761. Conflux (CFX) and ApeCoin (APE) also managed to sneak into the top 50, securing the 41st and 50th positions, respectively.
Movers Down the List: Decrease in Traction
Some tokens, however, saw a reduction in their trading volumes. Notably, TrueUSD (TUSD) fell from the fifth to the eighth position, while Cardano (ADA) dropped from the 17th to the 15th spot.
The Rise of Bridged Tokens and Wrapped Tokens
Another interesting trend is the rise of bridged and wrapped tokens. WETH, a wrapped version of Ethereum, saw a significant rise in trading volume from $1,200,803,709 to $1,478,751,260. USD Coin Bridged (USDCE) and Wrapped Bitcoin (WBTC) also maintained positions in the top 50 list, suggesting increasing interest in interoperability and DeFi applications in the crypto market.
The Intriguing Case of Multiple Appearances
Lastly, Solana’s (SOL) peculiar double appearance in the top 50 list is worth mentioning. SOL maintained its 11th position, but Wrapped Solana also appeared at the 40th spot. This might indicate Solana’s growing ecosystem and the demand for cross-chain operability in DeFi.
Crypto Trading Volume Analysis — Detailed Data
| Position | Symbol | Name | Volume |
|---|---|---|---|
| 1 | USDT | Tether | 36,212,732,905 |
| 2 | BTC | Bitcoin | 22,940,485,037 |
| 3 | ETH | Ethereum | 9,355,437,341 |
| 4 | USDC | USD Coin | 5,129,498,330 |
| 5 | BUSD | Binance USD | 3,442,981,126 |
| 6 | BCH | Bitcoin Cash | 2,668,722,260 |
| 7 | LTC | Litecoin | 2,244,461,191 |
| 8 | TUSD | TrueUSD | 2,047,102,375 |
| 9 | WETH | WETH | 1,478,751,260 |
| 10 | XRP | XRP | 1,127,298,161 |
| 11 | SOL | Solana | 987,329,060 |
| 12 | ETC | Ethereum Classic | 674,377,439 |
| 13 | XEC | eCash | 544,814,825 |
| 14 | BNB | BNB | 543,254,222 |
| 15 | ADA | Cardano | 456,881,526 |
| 16 | DOGE | Dogecoin | 394,716,289 |
| 17 | ARB | Arbitrum | 394,425,389 |
| 18 | MATIC | Polygon | 388,294,020 |
| 19 | PEPE | Pepe | 340,108,173 |
| 20 | LINK | Chainlink | 313,117,550 |
| 21 | WAVES | Waves | 308,254,392 |
| 22 | USDCE | USD Coin Bridged | 291,576,127 |
| 23 | EOS | EOS | 290,132,509 |
| 24 | COMP | Compound | 253,800,331 |
| 25 | TRX | TRON | 219,940,626 |
| 26 | DOT | Polkadot | 218,510,089 |
| 27 | FTT | FTX Token | 217,468,136 |
| 28 | BSV | Bitcoin SV | 213,445,341 |
| 29 | AVAX | Avalanche | 210,492,342 |
| 30 | WBTC | Wrapped Bitcoin | 204,693,610 |
| 31 | APT | Aptos | 194,288,761 |
| 32 | XLM | Stellar | 193,866,289 |
| 33 | AAVE | Aave | 193,306,111 |
| 34 | SUI | Sui | 179,501,434 |
| 35 | OP | Optimism | 174,682,202 |
| 36 | SHIB | Shiba Inu | 160,376,961 |
| 37 | DAI | Dai | 156,758,387 |
| 38 | FIL | Filecoin | 150,457,051 |
| 39 | STX | Stacks | 149,961,579 |
| 40 | SOL | Wrapped Solana | 142,892,501 |
| 41 | CFX | Conflux | 130,640,762 |
| 42 | NEO | Neo | 129,799,015 |
| 43 | FTM | Fantom | 127,204,335 |
| 44 | WBNB | Wrapped BNB | 125,413,944 |
| 45 | QTUM | Qtum | 111,454,496 |
| 46 | BTG | Bitcoin Gold | 110,697,873 |
| 47 | ATOM | Cosmos | 108,429,285 |
| 48 | DASH | Dash | 100,804,175 |
| 49 | UNI | Uniswap | 100,259,288 |
| 50 | APE | ApeCoin | 97,015,169 |
Wrap-Up
In conclusion, yesterday’s trading volumes offered us a snapshot of the dynamic crypto world. From the dominance of stablecoins and the steady performance of market leaders like Bitcoin and Ethereum to the surprising performances from underdogs and the rise of bridged and wrapped tokens, we see a vivid picture of a diverse and continuously evolving market. As always, the one certainty in the crypto world is change, and we look forward to witnessing the developments that tomorrow will bring.