cryptocurrency

Top 5 digital currencies by volume

  • The top 5 currencies by volume are USDT, BTC, ETH, BUSD, and USDC.
  • USDT has a 24-hour trading volume of $49,266,706,369.

The global crypto market is currently in a downturn. Major cryptocurrencies including Bitcoin are experiencing a sudden crash in the market. Besides BTC, the best altcoins are also struggling to maintain their positions. However, the leading coins recorded a slight increase in the past 24 hours.

Let’s take a look at the cryptocurrencies with the highest volume over a 24-hour period.

Top Coins by Volume (Source: CMC)

rope (USDT)

Tether (USDT) is one of the popular cryptocurrencies, a stablecoin linked to the US dollar and backed by 100% of Tether’s reserves. The coin is owned by Hong Kong-based iFinex. Tether is the largest stablecoin and the third largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH).

according to CMCTether is currently trading around $1.00 with a 24-hour trading volume of $49,266,706,369. At the time of writing, the coin is up 0.00% in the last 24 hours. Furthermore, it has a circulating supply of 67,545,704,103 USDT coins.

Bitcoin (BTC)

The first successful decentralized payment system, Bitcoin was introduced in 2009 by an anonymous developer, Satoshi Nakamoto. Since the launch of Bitcoin in 2009, the value of the currency has increased significantly. After more than a decade of existence, BTC is still ahead of the competitive market. In November 2021, BTC reached an all-time high of $68,789.

The current price of Bitcoin is $19,353.31 with a 24-hour trading volume of $32,858,605,651 according to CMC. However, BTC has increased by about 3.29% in the last 24 hours. Furthermore, the coin has a circulating supply of 19144500.00 bitcoins.

Ethereum (ETH)

Ethereum is an open source decentralized blockchain technology with its currency, Ether. ETH serves as a framework for implementing decentralized smart contracts as well as a platform for many other cryptocurrencies. Vitalik Buterin first described Ethereum in a 2013 white paper.

At the time of writing, ETH is trading around $1,640.13 with a 24-hour trading volume of $17,863,950,343. Ethereum has increased nearly 8.39% in the past 24 hours. according to CMCthe coin has a circulating supply of 122,283,954.87 ETH coins.

Binance USD (BUSD)

Binance USD is a US dollar stablecoin issued by the Binance platform, in partnership with the blockchain-based platform, Paxos Trust. BUSD was launched on September 5, 2019. The coin intends to combine dollar stability with blockchain technology.

Currently, Binance USD is trading around $0.9999 with a 24-hour trading volume of $8,978,062,984. However, the US dollar is down about 0.05% in the last 24 hours. It has a circulating supply of 19,706,930,458 BUSD coins, according to CMC.

USD currency (USDC)

USD Coin (USDC) is a digital currency that is fully backed by US dollar assets. USDC was launched in September 2018. The coin was developed by the hub consortium, in partnership with Circle and crypto exchange Coinbase.

The current price of the US dollar is $1.00 with a 24-hour trading volume of $5,446,337,958, according to CMC. However, USDC is down by about 0.01% in the last 24 hours. Furthermore, the coin has a circulating supply of 51,699,610,158 USDC coins.

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