These 3 Cryptocurrencies Alone Account for 60% of the World’s Crypto Trading Volume
And Ripple (XRP) and Bitcoin Cash (BCH) are not on the list
3 Cryptos Commanding 60% of Global Trading Volume
While it may surprise many, neither Ripple (XRP) nor Bitcoin Cash (BCH) are among the top 3 currencies by trading volume in the crypto space. These cryptocurrencies, even though influential from a market capitalization perspective, are not among the top traded cryptos on the exchanges currently (as of May 25th, 8:15 UTC). They account for just 2.18% and 3.86% of the global crypto trading volume, respectively.
There are 3 other cryptocurrencies dominating crypto trade currently – these are Bitcoin (BTC), Tether (USDT), and Ethereum (ETH). These 3 cryptocurrencies together account for 60% of global crypto trade presently, according to CoinMarketCap data.
Bitcoin (BTC) which commands about 30% of aggregate cryptocurrency trading volume, leads cryptocurrency trade in terms of volume and size. The crypto alone dominates $127 billion (38.3% share) in market capitalization. Exchanges such as Binance, Bitfinex, and OKEx contribute the most to this highly traded crypto’s volume commanding 4.94%, 4.9% and 4.1% of Bitcoin (BTC) trading volume, respectively.
Tether (USDT) is the second most highly-traded cryptocurrency, with a 15.6% share of global cryptocurrency trading volume. The crypto currently ranks 14th in terms of market capitalization with $2.5 billion in the market. Top exchanges for Tether (USDT) trading include Huobi, Binance, and OKEx; which contribute 9.6%, 9.4%, and 7.8% of Tether’s current aggregate trading volume, respectively.
Ethereum (ETH) stands 3rd in the league of top traded cryptos, commanding 13.84% of overall cryptocurrency trading volume. The asset, with $58.9 billion in circulation, is the second largest cryptocurrency in the crypto space by market capitalization. Top exchanges for Ethereum (ETH) trade include Bitfinex (9.4%), OKEx (5.2%), and Huobi (4.3%).
A potential 4th
These three dominant currencies together make up approximately 60% of world crypto trading volume, currently. Beyond these 3, EOS (EOS) is another highly traded cryptocurrency which commands 11.5% of aggregate cryptocurrency trading volume. Add to the above list of 3, these 4 cryptos would command over 70% of crypto trading currently. Top markets for EOS include Bithumb (20.6%), Upbit (16.6%), and Huobi (13%).