Friday, March 24, 2023

Tether beats Bitcoin to most traded cryptocurrency in January

Tether’s trading volume jumped by 61 per cent between December 2022 and January 2023, an increase from $603.6 billion and $977.1 billion.

• February 6, 2023
Tether [Photo Credit; Prestmit]

Tether is currently the world’s most traded cryptocurrency, having jumped by 61 per cent in the last one month, according to a ranking done by Bitcoin Casinos.

Following the crash in the cryptocurrency market in the last half of 2022, the industry experienced a significant spike in prices of cryptocurrencies in the beginning of this year.

Bitcoin’s monthly trading volume jumped 126 per cent and surpassed above $23,000 for the first time in six months.

The American gambling website, Bitcoin Casinos, focused on data between December 2022 till January 31 of this year.

According to Bitcoin Casinos, Tether is currently the most traded digital coin in the world.

Its trading volume jumped by 61 per cent between December 2022 and January 2023, an increase from $603.6 billion and $977.1 billion.

Meanwhile, Bitcoin was ranked second, with its monthly trading volume surging by 126 per cent to begin the year on a positive note.

The world’s largest and most expensive crypto, Bitcoin’s trading volume hit $950.6 billion last month, up from $420.1 billion in December.

Binance USD, Ethereum and Cryptonex complete the top five with their monthly trading volume hitting $319.9 billion, $288.2 billion and $179.4 billion respectively as at January 31.

Completing the top 10 are USD coin ($133.9 billion), Aptos ($84.4 billion), XRP ($42 billion), Shiba Inu ($34.8 billion) and WETH ($32.3 billion).

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