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Home Finance Crypto

What Are the Most Traded Cryptocurrencies?

Dean Miller by Dean Miller
January 24, 2023
in Crypto, Business
Reading Time: 5 mins read
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In recent years, cryptocurrencies have exploded in popularity and become one of the hottest discussion topics worldwide. Whether you’re an experienced investor or just getting into crypto for the first time, it can be hard to figure out which coins are most widely traded on exchanges. That’s why we’ve researched and compiled a comprehensive guide analyzing today’s top-traded cryptocurrencies – so you can make informed decisions when the time comes to buy or sell! With cryptocurrencies coming to the forefront of financial conversations, it’s no wonder people are looking to trade cryptocurrency. Read on as we explore some of the leading cryptos that generate huge amounts of daily trading activity. 

Tether (USDT)

Volume (24hr): 33.84B USD

Tether (USDT) is the cryptocurrency market leader, with a 24-hour trading volume of more than $33 billion. It has been accessible on the cryptocurrency market since 2014, and its liquidity statistics prove it is the most traded coin. Its price constancy in an industry where prices are often changing helps explain its widespread appeal. Tether was created as a bridge between digital assets and US dollars, enabling investors to easily and swiftly convert back and forth between digital and fiat currencies. Also, acquiring and selling as required is simple since it’s traded on several exchanges. Traders can rest knowing their money is secure and easily converted to other coins or cash. Considering all its advantages, it’s easy to understand why Tether is the most traded cryptocurrency.

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Bitcoin (BTC)

Volume (24hr): 25.53B USD

Top 10 most traded coins

Being the pioneering cryptocurrency, Bitcoin is one of the most actively traded currencies on the market today. As the first decentralized digital currency, it received early attention and is one of the most significant currencies today. The fact that Bitcoin is accepted by several online retailers and many brick-and-mortar stores is another plus for this digital currency. As a result of its robust technological underpinnings and dependability as a payment mechanism, bitcoin has risen to become one of the most traded currencies in the world today.

Binance USD (BUSD)

Volume (24hr): 9.18B USD

Binance USD is an excellent complement to any crypto portfolio. Like Tether, Binance USD has a fixed value of $1 and is not subject to market fluctuations like Bitcoin or other cryptocurrencies. Therefore, you can trade confidently, knowing its value won’t decline. As a result, it has quickly risen to the top of the cryptocurrency industry and is now a staple for those wishing to protect their investments and diversify their portfolios.

The fact that Binance, the largest cryptocurrency exchange, adopted BUSD as its native stablecoin further contributes to the cryptocurrency’s widespread adoption. This ensures it is easily accessible and inexpensive to consumers.

Ethereum

Volume (24hr): 7.82B USD

Ethereum has become one of the most successful cryptocurrency projects since its inception. Not only is it one of the first-ever smart contract platforms to hit the market, but it’s had a meteoric rise in popularity, even compared to other coins. Its ease-of-use, and ability to host decentralized applications are just some of the features that have caused users worldwide to flock to Ethereum, making it one of the more heavily traded coins out there. Ethereum trading volume should be higher because of its popularity and use cases. Still, the transaction costs are high compared to other leading networks, making Ethereum unideal for day-to-day transactions. 

USD Coin

Volume (24hr): 3.31B USD

As with USDT, USD coin is a stablecoin tied to the US dollar. Because of this, consumers don’t have to fret about transaction fees or the possibility of a currency’s value fluctuating while it’s safely stored. Anyone using USD coin can be sure its value will not decrease, making it ideal for daily usage. It’s hardly surprising that three stable currencies are among the top five most traded coins, given their wide variety of useful features and minimal maintenance costs.

Aptos (APT)

Volume (24hr): 2.08B USD

Aptos is a Layer 1 PoS blockchain that uses Move, a Rust-based programming language, to create smart contracts.

Aptos aspires to be a blockchain that facilitates the widespread adoption of web3 and enables a community of decentralized applications (DApps) to address pressing issues faced by end users.

Thanks to parallel processing, the PoS blockchain can process more than 150,000 transactions per second (tps). Ethereum’s mainnet tps is just 12–15, for comparison’s sake. Binance labs have also made a sizable investment, contributing to Aptos’s recent rise in popularity.

Solana (SOL)

Volume (24hr): 1.09B USD

One reason Solana has gained notoriety in cryptocurrency is the lightning-fast transaction rates made possible by blockchain technology. As a result of Solana’s hybrid protocol, transaction and smart contract validation times are drastically reduced. Solana’s admirably fast processing speeds have piqued the curiosity of several major institutions.

The protocol is created to ensure scalability and quick processing while maintaining minimal transaction costs.

Dogecoin (DOGE)

Volume (24hr): 807M USD

Top 10 most traded coins

Dogecoin’s popularity has skyrocketed in recent years, and it doesn’t take much investigation into the cryptocurrency’s online community and sheer success to see why. Dogecoin’s vibrant online presence, full of charm and humor, promotes widespread familiarity with blockchain technology. It has a thriving and welcoming community that places a premium on teamwork and is quick to recognize and applaud those that advance the field. Dogecoin is still one of the most traded currencies due to its cheap pricing, excellent transaction times, and expanding user support.

Ripple (XRP)

Volume (24hr): 801M USD

Ripple is a flexible cryptocurrency that can be used for everything from making purchases to sending money abroad. As a result of RippleNet’s built-in liquidity, business applications may profit greatly. You may do several transactions in rapid succession without any noticeable slowdown in performance. There’s a good reason why XRP is one of the market leaders: it does what it’s supposed to do.

Axie Infinity (AXS)

Volume (24hr): 734M USD

Axie Infinity is a trading and combat game powered by blockchain that is run and partly owned by its users. Axie Infinity was an early adopter of the Play-to-Earn (P2E) model, allowing players to earn cryptocurrency and NFTs by playing games. Users of the online game engage in turn-based fights, but the key distinction is that players have complete power over their characters, land plots, resources, and everything else that appears in the game’s virtual environment. In this sense, Axie Infinity is a freely explorable virtual world in which the players run the economy. Consequently, users may trade their Axies with other gamers and keep them safe in cryptocurrency wallets.

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Dean Miller

Dean Miller

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