Amidst all the noise, it is nice to see progress in the cryptocurrency space. After a bearish few days, cryptocurrency market volume is flirting with a new all-time high, with one day of trade volume passing about $7.5 billion. This is a pretty big deal in the cryptocurrency space, since back in the final days of 2017, trade volume was pushing $25 billion a day. The current record is $7.9 billion in 24-hour trade volume as of December 17, 2017.
The daily reported cryptocurrency exchange trade volume has reached an all-time high at over $5.3 billion, according to CoinMarketCap. The top cryptocurrency trades including Tether (USDT 8.9% ), Bitcoin (BTC 7.6%), EOS (EOS 5.7%), and Bitcoin Cash (BCH 4.8%). Stablecoin swaps including Tether (USDT 54.7%), TrueUSD (TUSD 6.2%), and USD Coin (USDC 3.7%) has dominated the crypto exchange market. The crypto markets have gained over $16 billion in the past 24 hours led by Bitcoin (BTC +1.8%) and Ethereum (ETH +0.8%). The crypto markets are at a high increase
The crypto markets have been showing signs of relative recovery over the past 24 hours. Many of the top twenty cryptocurrencies by market capitalization are in the green. However, the total crypto market capitalization has not moved much. Currently, the market capitalization stands at $156B.. Read more about bitcoin price and let us know what you think.According to this week’s data, the trading volume in cryptocurrencies reached a record high on May 20. it reached an all-time high of $1.76 trillion in 24 hours. Daily trading volume statistics on Monday were high, with volume reported by crypto-currency market aggregators showing more than $300 billion in 24 hours. At the same time, stablecoins accounted for 50% of global trading volume on Monday, with tokens like Tether, Binance Usd and Usd Coin leading the way.
Global registered trading volume in cryptocurrencies reaches highest level
Of all the volumes recorded across the crypto-economy, May 2021 recorded the highest cryptocurrency trading volume in history. In fact, the volume reported on hundreds of crypto-currency exchanges on the 20th. The record daily volume for May (ATH) is $1.76 trillion. Global trade in bitcoin (BTC) totaled about $71 billion on Monday. According to statistics, trading volume in April was also significant, with swaps approaching the one trillion dollar mark with a 30 day peak of $708 billion. The $1.76 trillion recorded last Thursday also fell as the total capitalization of the fiat cryptocurrency market dropped from over $2 trillion to $1.4 trillion. Global statistics from coincheckup.com show that after the 19th. By May 2021, world trade will exceed $1 trillion almost every day. On Monday, Coingecko’s statistics showed a global trading volume of about $304.9 billion and a total estimate of $1.6 trillion for the cryptocurrency economy. Coingecko’s data is almost identical to that of coinmarketcap.com, which essentially shows what the exchanges are reporting in real time.
The $100 billion Stubblecoin economy controls more than half of world trade.
Coingecko’s fiat currency related token index also shows growth in the value of the stablecoin market, with a global 24-hour trading volume of over $202 billion at the time of publication. If the numbers are correct, stablecoins accounted for about 50% of Monday’s global trading volume. It is worth mentioning that reports on trading volumes in the crypto economy have been controversial for over eight years. While USD accounts for 17.9% of BTC trading today, data from Cryptocompare shows that Tether (USDT) accounts for 55.28% of BTC market share volume. Tether and its stable $60 billion economy has processed the highest number of cryptocurrency transactions on a daily basis over the past 30 days. Paolo Ardoyno, CTO of Tether Limited, said Monday that the company had seen huge volatility in the crypto currency markets in recent days. During these extreme periods, we have seen a surge in activity in stablecoins, such as Tether, which recently hit the $60 billion mark, as demand continues to grow. Events like this keep the ecosystem strong and help everyone refocus on building instead of being distracted by the rising price of chips. Tether is not the only stablecoin that has proven its capabilities during the recent market downturn, as USDC and BUSD have become serious competitors. On Monday, the market valuation of USDC was about $20 billion and that of BUSD was about $8.6 billion. Although USDC has a larger market capitalization, BUSD has a larger trading volume today. At the time of writing, Binance’s stablecoin, BUSD, was trading at around $9.9 billion in 24 hours, while USDC was trading at $6 billion. Other notable players in terms of market capitalization and daily trading volume of Stabelcoins on Monday are tokens like DAI, UST, PAX and TUSD. What do you think of the $1 trillion trade volume at the end of May? Let us know what you think in the comments below.
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All-time high, BUSD, crypto assets, crypto currency trading volume, crypto currency trading volume, DAI, daily trading volume, Paolo Ardoino, Pax, stablecoin activity, stablecoin volume, stablecoins, Tether, trading volume, tusd, USDC, USDT, UST. Photo credit: Shutterstock, Pixabay, Wiki Commons, Coinecko, coincheckup.com, Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.The daily cryptocurrency exchange trade volume t…. Read more about tether price and let us know what you think.
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