If you are a crypto investor, you probably know what the top coins are. But as the crypto market rears its head again, some investors revisiting crypto would welcome a roundup of current options beyond major assets (BTC and ETH). It is important to stay up to date on the coins with the highest trading volumes. Here are the top 10 cryptocurrencies by trading volume, along with some key information investors should be aware of:
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Bitcoin (BTC): With a market cap of over $532 billion, Bitcoin remains the largest and most widely used cryptocurrency. Its price is up 19.17% in the last 30 days and it currently has a 24-hour trading volume of over $14.8 billion.
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Ethereum (ETH): Ethereum is the second largest cryptocurrency by market cap and is currently valued at over $213 billion. Its price is up 9.47% in the last 30 days and it has a 24-hour trading volume of over $7.1 billion.
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Tether (USDT): Tether is a stablecoin designed to maintain a 1:1 peg to the US dollar. The market cap is over $79 billion and the 24-hour trading volume is almost $24 billion.
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Binance Coin (BNB): Binance Coin is the native token of the Binance exchange. It has a market cap of over $51 billion and a 24-hour trading volume of almost $380 million.
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USD Coin (USDC): USD Coin is another stablecoin that is pegged to the US dollar. Its market cap is over $33 billion and it has a 24-hour trading volume of almost $4 billion.
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XRP: XRP is the native token of the Ripple payment protocol. It has a market cap of over $23 billion and its price has increased by over 20% in the last 7 days. The 24-hour trading volume is over $1.6 billion.
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Cardano (ADA): Cardano is a third-generation blockchain platform that aims to provide a more efficient and sustainable alternative to existing blockchains. The market cap is over $12 billion and the 24-hour trading volume is over $209 million.
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Dogecoin (DOGE): Dogecoin is a meme-inspired cryptocurrency popular with many retail investors. The market cap is over $9 billion and the 24-hour trading volume is over $288 million.
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Polygon (MATIC): Polygon is a Layer 2 scaling solution for Ethereum that aims to improve its speed and scalability. The market cap is over $9 billion and the 24-hour trading volume is over $341 million.
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Binance USD (BUSD): Binance USD is another stablecoin that is pegged to the US dollar. Its market cap is over $8 billion and it has a 24-hour trading volume of nearly $3 billion.
BTCUSD Technical Analysis Snapshot: Buyers Might Need to Be Cautious (and Wait for a Drop?) Here
BTCUSD on monthly time frame at 20EMA
As Bitcoin’s price surges and approaches the 20EMA, buyers should exercise caution. The 20EMA is a popular technical indicator used to track a security’s price trend, and it can serve as resistance or support for the price. If Bitcoin is up nearly 90% since November 2022 and hits the 20EMA on the monthly time frame, there is a chance that profit takers will be waiting to sell their positions, leading to a price reversal or consolidation. Buyers should be aware of this possibility and carefully monitor price action around the 20EMA to avoid buying at the top of a rally and potentially losing money on a market correction.
Keep in mind that trading volume alone is far from the only indicator of a coin’s value or future prospects. Investors should always do their due diligence and consider factors such as technical analysis before making any investment decisions.
