100 million bitcoin fivefold in value after they were stolen
18.05.2022
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Many people have opened their eyes to cryptocurrency in recent years, but it is not…
The most traded cryptocurrencies
There are many different popular cryptocurrencies although most may only be familiar with a few of these. In total, there are many thousands of different cryptocurrencies available, but there are of course a few that are much more used than others.
One of the most common ways to measure how much is used and how much value a cryptocurrency has is by measuring turnover. The turnover itself is a measure of how much of the various cryptocurrencies have been bought and sold over a given period of time, based on figures from cryptocurrency exchanges.
Turnover can say a lot about the market that you can not see with just the price and market capital, such as how likely it is that a trend continues in the same direction. Here you can get a little acquainted with the most traded cryptocurrencies and see how much they trade for daily, then you will soon understand that cryptocurrency is so much more than just Bitcoin.
How much is traded for (volume) says a lot about how easy / difficult it is to trade a cryptocurrency – just like with stocks, currency trading and other value instruments.
Bitcoin
Although there are several alternatives to Bitcoin, the original cryptocurrency is still in first place when it comes to the most traded cryptocurrency. The volume that is traded every day can vary quite greatly, but it is often well over 15 billion US dollars in a day. Bitcoin is the most popular cryptocurrency that most people already have a relationship with, and it will probably also remain the most traded cryptocurrency for some time to come.
Tether
The second most traded cryptocurrency is a currency called Tether . This is very different from Bitcoin, because Tether is a so-called «stablecoin». This means that it aims to have a stable value, and Tether strives to be worth as accurate as $ 1 as possible.
In other words, Tether is a cryptocurrency that has USD as its foundation, and this has made it a popular cryptocurrency to guard against falls in the cryptocurrency market.
If you think Bitcoin will fall in value against the USD, you can easily sell Bitcoin for Tether and make money on the fall, while in comparison it would be more cumbersome to sell it against real USD to protect yourself, at the same time as a sale against USD or another real currency could have led to taxable income in many countries.
Ethereum
In third place among the most traded cryptocurrencies, we have Ethereum with a turnover of between 5 and 8 billion dollars daily. This is a blockchain that works very differently than both Bitcoin and Tether, and is specially designed to handle smart contracts. Among other things, it is possible to create decentralized games and applications on this blockchain, and this has led to it being a blockchain that is both widely used by people, at the same time as it is popular as an investment object.
Litecoin
Litecoin is also one of the oldest cryptocurrencies, and it actually works very similarly to Bitcoin, but it is made to have much lower transaction costs. This has made it a popular cryptocurrency, and it is traded for between 2 and 3 billion dollars per day.
See which cryptocurrencies are the most traded right now
For a completely updated list of the most traded cryptocurrencies, you can go to coinmarketcap.com and click on the tab “Volume (24h)”, and you will see which cryptocurrencies have been traded the most during the last 24 hours. There are mostly many of the same cryptocurrencies that recur day after day, but there are regularly some changes on the top list, so it may be worth keeping an eye on.
