Cryptocurrency trading volume is a key metric for assessing market activity and liquidity. Below is an analysis of the top 10 cryptocurrencies by 24-hour trading volume, providing insights into their market dominance and trading dynamics.
1. Tether (USDT)
24-Hour Volume: 62.17%
Tether (USDT) remains the dominant stablecoin, widely used for trading pairs due to its peg to the US dollar.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
2. Bitcoin (BTC)
24-Hour Volume: 45.23%
Bitcoin continues to lead in market capitalization and trading volume, maintaining its position as the flagship cryptocurrency.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
3. Dai (DAI)
24-Hour Volume: 18.35%
Dai, a decentralized stablecoin, is gaining traction due to its algorithmic stability and DeFi integrations.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
4. Ethereum (ETH)
24-Hour Volume: 15.32%
Ethereum’s smart contract capabilities drive its high trading volume, especially with DeFi and NFT ecosystems flourishing.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
5. USD Coin (USDC)
24-Hour Volume: 7.96%
USDC, a regulated stablecoin, is increasingly adopted for its transparency and compliance with financial standards.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
6. Bedrock (BED)
24-Hour Volume: 4.87%
Bedrock (BED) is an emerging DeFi token with growing liquidity and trading activity.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
7. First Digital USD (FDUSD)
24-Hour Volume: 4.84%
First Digital USD (FDUSD) is gaining adoption as a stablecoin alternative in Asian markets.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
8. Solana (SOL)
24-Hour Volume: 3.44%
Solana’s high-speed blockchain attracts traders, contributing to its consistent trading volume.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
9. XRP (XRP)
24-Hour Volume: 2.92%
XRP remains relevant in cross-border payments, sustaining its trading volume despite regulatory challenges.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
10. World Liberty Financial USD (USD1)
24-Hour Volume: 1.58%
USD1 is a niche stablecoin used in specific financial ecosystems.
| Rank | Source | Pair | Volume (24h) | Price | Volume (%) |
|------|--------|------|-------------|-------|------------|
FAQs
What factors influence cryptocurrency trading volume?
High liquidity, market demand, and exchange listings primarily drive trading volume.
Why is Tether (USDT) the most traded cryptocurrency?
USDT’s stability and widespread use as a trading pair contribute to its dominance.
How does trading volume impact crypto prices?
Higher volume often indicates stronger market interest, which can lead to price volatility.
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