CryptoInvesting

Three Leading Cryptocurrencies Hit $1.2trn In Monthly Trading Volume

Cryptocurrencies continue to draw a lot of attention from
investors, especially after positioning as an inflation
hedge during the coronavirus crisis. According to data
gathered by BuyShares.co.uk,
the three leading cryptocurrencies reached $1.2trn in
monthly trading volume. With almost $575bn value traded in
the last 30 days, Tether ranked as the leading
cryptocurrency.

Tether Trading Volume 20% Higher than
Bitcoin`s

As the world’s most widely used
cryptocurrency, Tether reached nearly $17bn in daily
purchase volume at the beginning of this week, revealed the
CoinMarketCap data. Statistics also show the most popular
stablecoin hit almost $107bn in weekly trading
volume.

With a $445bn value traded in the last 30
days, Bitcoin ranked as the second most-used cryptocurrency.
Although leading both in terms of price and market
capitalization, Bitcoin reached $13.4bn in daily trading
volume, and $85bn in weekly trading volume, 20% less than
Tether.

Statistics show Ethereum represents the third
most-traded cryptocurrency in the last month. Ethereum daily
trading volume amounted to $6.1bn at the beginning of this
week, while the monthly purchased volume reached
$187.8bn.

Over Six Million New Blockchain Wallet
Users in 2020

The growing number of investors
choosing cryptocurrencies as a shelter during the stock
market fluctuations has been followed by the surge in the
blockchain wallet usage. Blockchain wallets allow users to
manage, and store cryptocurrencies and their number
significantly increased in 2020.

At the end of 2019,
44.6 million people were using the crypto wallets, revealed
Statista and Blockchain.info data. In the next three months,
this figure jumped over 47 million. Statistics show the
number of blockchain wallet users amounted to 50.7 million
as of the second quarter of 2020, almost six million
increase since the beginning of the year.

The
full story can be read
here.

© Scoop Media

 

Original post: Source link