Tether reached $ 2.3 million in monthly transaction volume, almost double Bitcoin and 2.5 times more than Ethereum

New York, New York – June 30, 2021 (Investorideas.com Newswire) The growing number of investors choosing digital coins as an investment asset has led to an increase in the volume of cryptocurrency transactions. After hitting historic highs in 2020, the daily and monthly trading volumes of the world’s major cryptocurrencies have set a new record this year.

According to data presented by BlockArabia.com, Tether, as the world’s most widely used cryptocurrency, reached $ 2.3 billion in monthly transaction volume, almost double that of Bitcoin and 2.5 times more than Ethereum.

Daily trading volume jumped five times in a year

With a monthly transaction volume 95% higher than that of Bitcoin, Tether is arguably the most important coin in the global crypto market. As the world’s most widely used stable coin, it is also a path for many traders active in the crypto market.

CoinMarketCap data showed Tether’s daily trading volume has grown over the past year. In June and July 2020, it hovered between 20 and 25 billion dollars. By the end of the year, it jumped to around $ 70 billion.

However, the year 2021 saw the highest daily trading volume of the third largest cryptocurrency in the world. After hitting over $ 100 billion in January, Tether’s 24-hour shopping volume jumped to nearly $ 140 billion in February and has continued to grow. On May 19, it hit a record high of nearly $ 290 billion, then fell back to $ 60 billion to $ 90 billion in the first half of June. Statistics show Tether’s daily trading volume was over $ 101 billion on June 22, a massive 400% increase in one year.

As the world’s largest and most expensive cryptocurrency, Bitcoin has reached nearly $ 1.2 billion in monthly transaction volume. Ethereum ranked third among the most traded cryptocurrencies, with $ 908.1 billion in 30-day purchase volume.

Ethereum Classic, EOS, and Dogecoin followed, with $ 352.6 billion, $ 286.6 billion, and $ 258.3 billion in monthly transaction volume, respectively. CoinMarketCap data shows that the top three cryptocurrencies reached over $ 4.4 billion in monthly transaction volume.

Tether market cap jumped 190% in 2021

In addition to ranking as the most traded coin in the crypto ecosystem, Tether has also seen a significant increase in market capitalization this year.

In January, the market capitalization of the third largest cryptocurrency in the world was $ 21.3 billion. Over the next three months, that figure rose to $ 41.6 billion. The uptrend continued over the following months, with Tether’s market cap reaching $ 62.6 billion in June, a massive 190% jump since the start of the year.

The full story can be read here: https://blockarabia.com/pr/tether-hit-2-3t-in-monthly-trading-volume-almost-double-than-bitcoin-and-2-5x-more-than-ethereum/

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