The last month has seen impressive growth in the global crypto market after a rocky September and another crypto price drop, following a ban on cryptocurrency transactions and mining from China’s central bank, which declared all digital coins illegal in the country.
Since the beginning of October, some of the world’s leading digital coins not only bounced back but hit new record valuations, while their monthly trading volumes also stayed high.
According to data presented by Block Arabia, Tether, Bitcoin, and Ethereum remained the most traded digital coins in the crypto space last month. Here is the complete list of other cryptos that also ranked on the top ten list.
1inch Network Among the Five Most Traded Cryptos
As the world’s most traded cryptocurrency, Tether saw its trading volume drop by 20% last month. In September, the world’s most used stable coin hit $2.8trn in monthly trading volume, almost triple that of the second-ranked Bitcoin. However, statistics show this figure slipped to around $2.2trn in the last 30 days.
October has been a great month for Bitcoin and Ethereum, with the world’s top two cryptos reaching their new record valuations. On October 20, the price of the world’s most expensive cryptocurrency hit a new all-time high of $66,689, showing a massive 54% jump in just three weeks. Also, the CoinMarketCap data showed Bitcoin remained the second most-traded coin in the crypto space, with a monthly trading volume of $1.2trn, almost the same as a month before.
Last week, Ethereum also hit a new record valuation, with its price jumping over $4,400 or $150 more than the previous record from May. However, statistics show the monthly trading volume of the world’s second-largest crypto by market cap slipped to $646bn in October, compared to $750bn a month before.
Although its 30-day trading volume dropped by $100bn, Binance USD climbed two places on the list and ranked as the fourth most-traded crypto in October. Last month, its trading volume amounted to $182bn, down from $192bn in September.
USD Coin, which ranked as the fifth most-traded crypto in September, dropped to eighth place last month. Instead, 1inch Network closed the top five list, with a monthly trading volume of $106.7bn.
Axie Infinity Hits the Top Ten list with $87B in Monthly Trading Volume
Statistics show significant changes in the other half of the list. Solana and Bitcoin Cash, which saw impressive trading volume in September, didn’t make it to the top ten list last month.
Litecoin jumped one place and ranked as the sixth most-traded crypto in October, despite its monthly trading volume dropping by 37% to $104.2bn.
The CoinMarketCap data showed that, compared to September, two new cryptos entered the most-traded list. With $89bn in monthly trading volume, WETH or Wrapped Ethereum, ranked seventh on the list of most popular cryptos.
Axie Infinity, the fastest-growing NFT coin this year, ranked ninth on the list, with $87.3bn in 30-day purchase volume. Also, statistics show the market cap of AXS tokens soared by more than 31,000% YTD and hit over $9bn last week.
XRP closed the top ten list, with $85bn in monthly trading volume, down from almost $150bn in September.