If you're a crypto investor, you probably know which are the top coins. But as crypto market is raising its head again, some investors revisiting crypto would appreciate a recap of the current options beyond the major assets (BTC and ETH). It's important to stay on top of the coins with the highest trading volumes. Here are the top 10 cryptocurrencies by trading volume, along with some key information that investors should keep in mind:
Bitcoin (BTC): With a market cap of over $532 billion, Bitcoin remains the largest and most widely recognized cryptocurrency. Its price has risen 19.17% over the past 30 days, and it currently has a 24-hour trading volume of over $14.8 billion.
Ethereum (ETH): Ethereum is the second-largest cryptocurrency by market cap, currently valued at over $213 billion. Its price has risen 9.47% over the past 30 days, and it has a 24-hour trading volume of over $7.1 billion.
Tether (USDT): Tether is a stablecoin that is designed to maintain a 1:1 peg with the US dollar. Its market cap is over $79 billion, and it has a 24-hour trading volume of almost $24 billion.
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.
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.
XRP: XRP is the native token of the Ripple payment protocol. It has a market cap of over $23 billion, and its price has risen over 20% in the past 7 days. Its 24-hour trading volume is over $1.6 billion.
Cardano (ADA): Cardano is a third-generation blockchain platform that aims to provide a more efficient and sustainable alternative to existing blockchains. Its market cap is over $12 billion, and it has a 24-hour trading volume of over $209 million.
Dogecoin (DOGE): Dogecoin is a meme-inspired cryptocurrency that has become a favorite of many retail investors. Its market cap is over $9 billion, and it has a 24-hour trading volume of over $288 million.
Polygon (MATIC): Polygon is a Layer 2 scaling solution for Ethereum that aims to improve its speed and scalability. Its market cap is over $9 billion, and it has a 24-hour trading volume of over $341 million.
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 almost $3 billion.
BTCUSD technical analysis snapshot: Buyers might need to be careful here (and wait for a dip?)
As Bitcoin's price rises 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 act as resistance or support for the price. When Bitcoin has gone up almost 90% since November 2022, and reached the 20EMA on the monthly timeframe, there is a possibility that profit takers are waiting to sell their positions, causing a price reversal or consolidation. Buyers should be aware of this possibility and carefully monitor price movements around the 20EMA to avoid buying at the top of a rally and potentially losing money in a market correction.
Keep in mind that trading volume alone is far from being 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.
