In today’s crypto news, we are reporting the increase in the total volume of all cryptocurrency trading. According to the market metrics leader Coinmarketcap, the Bitcoin and altcoin trading has managed to hit a 300-day high this Tuesday, reaching $33.85 billion in one day.
The data point is also the latest to suggest that the trading activity in the crypto markets is increasing. As a leader in metrics that tracks the aggregate trading volume of 2,074 cryptocurrencies such as data about how they are being bought and sold across every exchange worldwide.
On another note, the data hints that this may be a signal for more than simply a market-wide surge – a large majority of the trading volume reported yesterday comes from the top 10 largest cryptocurrencies by market cap.
Speaking of, the top 10 cryptos made up roughly $30 billion of the trading volume which translates to 88% of the entire trading volume on Tuesday. Bitcoin (BTC) alone accounted for roughly 27% of the 24-hour total, while the dollar-pegged stablecoin Tether (USDT) recorded volumes that accounted for 24% of the volume.
This increase in trading volume clearly shows a renewed investor interest in the market which should not come as a surprise since the value of the broader crypto market has increased roughly 12% in the last 7 days.
Meanwhile, it seems like the trading volumes are continuing the strength. On Wednesday, we saw them climbing to $29.8 billion while since the beginning of the week, they have managed to cross the 0 billion mark.
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