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USDT and Top Altcoin Markets See Volume Increase
BTC saw a slight increase in volume during December, with $157.2 billion worth of trade taking place, up from $156.5 billion during November. As such, BTC posted its strongest volume since May.
Tether ( USDT ) has continued to see a rise in month-over-month volume, likely reflecting the increase in altcoin trading that has taken place in recent months. December saw $115.7 billion worth of USDT change hands, a roughly 8.5% increase over last month, and a 66% increase when compared with October’s volume. This past month comprised the strongest month of trade during the second half of 2018.
$68.2 billion worth of Ethereum ( ETH ) was traded during December, up 16% month-over-month, and 65.5% since October. ETH also posted the strongest volume for the second half of 2018.
XRP Sees Drop-Off in Volume
Eos ( EOS ) was the fourth-most traded cryptocurrency of the past month, posting a 30-day volume of $25.3 billion – the strongest since June. EOS saw a slight gain in month-over-month trade activity, gaining 4.5% over November’s 24.2 billion.
Ripple ( XRP ) was among the few leading altcoin markets to see a reduction in monthly trade activity during December, with nearly $17.3 billion worth of XRP changing hands. Despite volume dropping 21% month-over-month, December produced the second-strongest 30-day volume for XRP pairings of the second half of 2018.
Litecoin ( LTC ) has held its position as the sixth-ranked cryptocurrency by monthly volume, producing $13.2 billion worth of trade during December. LTC saw a slight gain over November’s $13 billion, making December the strongest month of trade for the latter half of the year.
BCH and ETC See Recession in Monthly Volume
Bitcoin Cash ( BCH ), which was the seventh-most traded cryptocurrency of the past month, posted its second-weakest monthly volume for 2018 during December with $9.87 billion in trade. 30-day volume fell by 38% when compared with November’s $13.6 billion, pushing BCH to its lowest rank by monthly volume for 2018.
December saw Qtum ( QTUM ) rank eighth by 30-day volume, placing it in the top 10 for the first time since June. QTUM pairing generated approximately $4.4 billion worth of trade for the second consecutive month during December.
Ethereum Classic ( ETC ) was the ninth-most traded cryptocurrency of December, comprising its weakest ranking since May. ETC pairings produced roughly $4.23, down 20% from November’s $5.27 billion.
Dash Holds Position in Top 10
Dash ( DASH ) closed the month as the 10th-ranked cryptocurrency by 30-day volume, placing in the top 10 for the entire second half of 2018. Dash produced $4.09 billion in trade during December, a 21% decline month-over-month.
Zcash ( ZEC ) ascended two ranks by monthly volume, placing 11th with $3.78 billion worth of ZEC changing hands in the last 30 days. Despite moving up the rankings, total trade activity for ZEC pairings dropped by 7.5%
Bitcoin SV ( BSV ) pairing produced $3.74 billion worth of trade during December, moving it from 14th to 12th by 30-day volume. BS saw a 14.5% increase in trade activity when compared with November’s $3.27 billion.
NEO, XLM and TRX See Increase in Trade Activity
December saw Neo ( NEO ) comprise the 13th most-traded cryptocurrency following two consecutive months of ranking in the top 10. $3.73 billion worth of NEO changed hands this past month, a 33% drop from last month’s $5.57 billion.
Stellar ( XLM ) saw a significant increase in trade activity during December, moving up one position to rank as the 14th-most traded cryptocurrency. $3.29 worth of XLM was traded during the last 30 days, the strongest month of trade for the second half of 2018 and a 20% increase over November’s $2.74 billion.
Tron ( TRX ) pairings produced $2.97 billion in trade this past month, ranking it as the 15th-most traded cryptocurrency. TRX saw a roughly 23% gain in 30-day volume when compared with last month’s $2.42 billion.
Stablecoins Increasingly Crowd Volume Leaderboard
Pairings for Ck Usd (CKUSD), a stablecoin traded exclusively on Allcoin and Bcex, produced $2.81 billion in volume during December. CKUSD ranked as the 16th-most traded crypto asset for December, falling five places after posting a 37% reduction in the 30-day volume.
Paxos standard token ( PAX ) ranked 17th by monthly volume during December, producing $2.03 billion in trade over the last 30 days. PAX posted an approximately 32% gain in trade activity month-over-month.
Trueusd ( TUSD ) retained its position as the 18th-most traded crypto asset during December, with TUSD pairing generating $1.44 billion in trade. TUSD trade activity increased by roughly 45% when compared with November’s $995.5 million.
BIT-Z token ( BZ ), an in-house token traded on Bit-Z exchange, ranked among most traded cryptocurrencies for the first time during December, placing 19th with a 30-day volume of $1.02 billion.
Waves ( WAVES ) also placed as a top-ranking cryptocurrency by trade volume during December, ranking 20th with nearly $920 million worth of Waves changing hands.
Do you think that we will see a continual increase in trade volume throughout 2019? Share your outlook for the markets in the comments section below!
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