Cryptos Being Traded. The cryptocurrency market is inherently volatile, with prices fluctuating frequently. The overall market value of cryptocurrencies has dropped 0.69 percent to $2.44 trillion, and the market is currently witnessing a minor fall. Following suit, 24-hour trade volume fell by 23.5 percent to $69.7 billion. The trading activity of several cryptocurrencies shows that they have captured the attention of investors and dealers despite the slump. Despite the market downturn, this article will shed light on the altcoins still seeing heavy trading volume.
1. Tether (USDT)
Trading Volume: $53.02 billion
Traders looking for stability in the market still regard Tether as an investment option despite the market volatility. The value of USDT has decreased by 0.04% and 0.02% over the past 24 hours and seven days, respectively, and is now trading at $0.9994.
The USDT project boasts the most significant market capitalization of any stablecoin, at $112.5 billion. On the last day, $53 billion worth of the coin changed hands. With a total supply of 112,544,030,567 USD, Tether is an essential cryptocurrency that helps keep prices stable, mainly when market volatility is high.
2. Bitcoin (BTC)
Trading Volume: $26.7
Bitcoin (BTC) has a market cap of $1.319 trillion and a 54.2% share of the cryptocurrency market, making it the most valuable cryptocurrency. The coin’s value has fallen by 1.08% in the past day, and it has been trading below $70,000 for several days. With a 6.04% drop in value over the last week, this negative trend is also visible in the intermediate term.
Cryptos Being Traded: Despite this, the market mood remains steady, with BTC trading worth $26.7 billion in the last 24 hours. Some claim that the entire cryptocurrency market feels the effects of a sneeze from Bitcoin because it serves as its primary barometer. There are 19,711,981 BTC in circulation for this coin.
3. Ethereum (ETH)
Trading Volume: $14.14
Ethereum, which holds 17.3% of the total cryptocurrency market, is second only to Bitcoin. The coin had a surge in trading activity during the past 24 hours, with a volume of $14.1 billion.
Nevertheless, the price of Ethereum has been underwhelming, particularly considering the crypto community’s expectations that its value will surpass $4,000 following the approval of the Ethereum ETF. Today, the token is trading at $3,515.59, a decline of 0.35% from the last day and 7.96% from the previous week. With a market cap of $422.4 billion, Ethereum (ETH) is the second-largest cryptocurrency, according to CoinMarketCap. There are 120,151,114 coins in circulation for this token.
4. USD Coin (USDC)
Trading Volume: $5.78
USD Coin, another well-liked stablecoin, is seeing significant trade activity. The value of USDC, Cryptos Being Traded: listed at exactly $1.00, has been relatively stable over the past seven days, increasing by 0.01% today and yesterday. Over the last 24 hours, $5.8 billion worth of the coin has changed hands, valuing it at $32.6 billion.
Thanks to its 32,580,569,954 USDC circulating supply, this stablecoin’s common uses include trading, transactions, and protection against market volatility. The integration of USDC into decentralized finance (DeFi) platforms multiplies its value and trade volume.
5. First Digital USD (FDUSD)
Trading Volume: $5.35
With $5.3 billion in 24-hour trading volume, First Digital USD is another stablecoin that has gained market popularity. Today, the coin is selling at $0.9989, showing a decreasing trend. It has declined somewhat over the past day and week. At $2.6 billion, FDUSD is the forty-first largest cryptocurrency by market cap. More and more people in Asia are using FDUSD as a digital asset and for trade, and the total number of FDUSD in circulation is 2,606,822,770.
Conclusion
Despite the market downturn, stablecoins like Tether, USD Coin, and First Digital USD continue to provide stability and liquidity. At this moment, Bitcoin and Ethereum are still the most popular trading platforms, evidence of their enduring popularity and market dominance. Even though the market is in a slump, buying and selling these cryptocurrencies will show us how the market is generally feeling.
