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A cryptocurrency’s trading volume is the number of coins that have exchanged hands during a defined period of time, usually 24 hours. In other words, the 24-hour trading volume of a cryptocurrency is how much value of a coin has been bought and sold over the course of a day.
1. Tether (USDT)
• Price: $1.00
• 24 Trade Volume: $56 billion
Tether’s price is anchored at $1 per coin. That’s because it is what’s called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isn’t safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt.
2. Bitcoin (BTC)
• Price: $30,650
• 24 Trade Volume: $30 billion
As the harbinger of the cryptocurrency era, Bitcoin is still the coin people generally reference when they talk about digital currency. Its mysterious creator — allegedly Satoshi Nakamoto — debuted the currency in 2009 and it’s been on a roller-coaster ride since then. However, it wasn’t until 2017 that the cryptocurrency broke into popular consciousness.
3. Ethereum (ETH)
• Price: $2,014
• 24 Trade Volume: $17 billion
Ethereum — the name for the cryptocurrency platform — is the second name you’re most likely to recognize in the crypto space. The system allows you to use ether (the currency) to perform a number of functions, but the smart contract aspect of Ethereum helps make it a popular currency.
4. USD Coin (USDC)
• Price: $1.00
• 24 Trade Volume: $5.6 billion
Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning that its value should not fluctuate. The currency’s founders say that it’s backed by fully reserved assets or those with “equivalent fair value” and those assets are held in accounts with regulated U.S. institutions.
5. Binance USD (BUSD)
• Price: $1.00
• 24 Trade Volume: $5 billion
Binance USD is a dollar-backed stablecoin from top crypto exchange Binance in partnership with Paxos. Binance USD was launched in 2019 and is regulated by the New York Department of Financial Services. BUSD runs on top of the Ethereum blockchain.
6. Solana (SOL)
• Price: $53.18
• 24 Trade Volume: $1.7 billion
Launched in March 2020, Solana is a newer cryptocurrency and it touts its speed at completing transactions and the overall robustness of its “web-scale” platform. The issuance of the currency, called SOL, is capped at 480 million coins.
7. Binance Coin (BNB)
• Price: $289.04
• 24 Trade Volume: $1.5 billion
Binance Coin is the cryptocurrency issued by Binance, among the largest crypto exchanges in the world. While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments as well as purchasing various goods and services.
8. TERRA (LUNA)
• Price: $0.0001
• 24 Trade Volume: $1 billion
Terra was founded in January 2018 by Daniel Shin and Do Kwon. The two conceived of the project as a way to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability. Kwon took on the position of CEO of Terraform Labs, the company behind Terra.
9. Dogecoin (DOGE)
• Price: $0.0874
• 24 Trade Volume: $500 million
Originally created as a joke after the run-up in Bitcoin, Dogecoin takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies limiting the number of coins in existence, Dogecoin has unlimited issuance. It can be used for payments or sending money.
10. Waves (WAVES)
• Price: $6.82
• 24 Trade Volume: $300 million
Waves is a multi-purpose blockchain platform which supports various use cases including decentralized applications (DApps) and smart contracts.
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