According to this week’s data, cryptocurrency trading volume reached an all-time high on May 20, reaching $ 1.76 trillion in 24-hour volume. Daily trading volume figures for Monday have been high, as the reported volume of crypto market aggregators exceeds $ 300 billion in 24-hour volume. Meanwhile, the stablocks occupy 50% of Monday’s global trade volume, with tokens leading the pack token like Teether, Binance USD and USD Coins.
Reported Crypto Exchange Volume Worldwide Capture Lifetime High
Of all the amounts reported over the lifetime of the crypto economy, May 2021 saw the largest amount of cryptocurrency trading in history. In fact, on 20 May, a record high of amounts reported in hundreds of crypto exchanges (ATH) $ 1.76 trillion In daily quantities. Quantity reported for bitcoin (B T c) Has about $ 71 billion in global swaps on Monday.
Statistics showed trade volume was also close to a trillion in April, when it tapped a 30-day high of $ 708 billion in daily swaps. The most recent $ 1.76 trillion was captured last Thursday, when the entire crypto market capitalization fell from $ 2 trillion to $ 1.4 trillion in fiat value.
data from Coincheckup.com’s Global figures show that after May 19, 2021, worldwide swaps exceeded $ 1 trillion almost every day.
On Monday, Coingecko figures that global trade volume is roughly $ 304.4 Billion and a $ 1.6 trillion crypto-economy valuation in total. Coingecko’s data is almost the same as coinmarketcap.com, which essentially shows what exchanges are reporting in real-time.
The $ 100 billion stable currency economy commands more than half of global trade volume
Coingecko’s Fiat-pegged token index It also shows that the valuation of the stable currency market is increasing and in press time, it shows more than $ 202 billion in 24-hour global trading volume. If the reported numbers are accurate, it is about 50% of global trading volume on Monday with stable stocks. It is worth noting that the crypto economy has been combating the reported trade volume for more than eight years.
While the US dollar commands 17.9% today B T c Business, cryptocurrency The data 55.28% of the 8% shows B T cIs added with the amount of market share of Tether (USDT). During the past 30 days, Tether and its stable currency economy, valued at $ 60 billion, have settled most crypto trades on a daily basis.
Paolo Ardoino, CTO of Teether Limited, reported on Monday that the company has seen “huge fluctuations in the cryptocurrency market” in recent times. “During these extreme episodes, we have historically seen an increase in stable currency activity, evident from Teether’s recent US $ 60 billion milestone as demand continues to grow. Such events also add to the strength of the ecosystem. Supports and tokens to help everyone focus back on construction rather than the distraction of price gains. “
Binder It is not the only stable currency to show its ability during the recent market downturn Usdc And BUSDs have become huge competitors. Usdc It now has a market valuation of about $ 20 billion on Monday and BUSD has about $ 8.6 billion.
while Usdc Has a large market capitalization of today, BUSD has a high trading volume. At the time of writing, Binance’s steady posture Basudi 24 hours trading volume is about $ 9.9 billion and Usdc 6 billion dollars. Other notable players in both market cap and fixed currency daily trading volume on Monday include tokens such as DAI, UST, PACS and TUSD.
What do you think about the trillion-dollar trade volume recorded at the end of May? Tell us what you think about this topic in the comments section below.
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