Messari: Bitcoin, Ethereum and Tether attract 90% of the trading volume in the top 10 crypto markets
Trading in the cryptocurrency market increasingly focuses on three assets, according to a new study by Messari.
According to the analyst, 90% of the real trading volume of the 10 largest crypto assets falls on Bitcoin, Tether and Ethereum. A year ago, their share was 75%.
“The growth in the real share of USDT is not surprising,” the analyst writes. - There is a rapid cryptocurrency dollarization, because the world still considers USD as an excellent means of accumulation, especially during the crisis. The demand for stablecoins does not show a slowdown. ”
At the same time, there is not only an increase in the share of individual assets in the auction, but also in the trading volumes themselves. After a lull in December, trading volumes grew from the beginning of the year and reached a peak on March 12, to which they have not risen since June 2019.
According to the analyst, the concentration of volumes around Bitcoin, Ethereum and stablecoins suggest that new prospects open up for projects in their ecosystems. At the same time, the position of assets that are trying to compete with Bitcoin or Ethereum may worsen.
It was previously noted that Tether's capitalization reached $ 8.77 billion, which allowed him to become the third-largest asset on the market for a short time.
Trading in the cryptocurrency market increasingly focuses on three assets, according to a new study by Messari.
According to the analyst, 90% of the real trading volume of the 10 largest crypto assets falls on Bitcoin, Tether and Ethereum. A year ago, their share was 75%.
“The growth in the real share of USDT is not surprising,” the analyst writes. - There is a rapid cryptocurrency dollarization, because the world still considers USD as an excellent means of accumulation, especially during the crisis. The demand for stablecoins does not show a slowdown. ”
At the same time, there is not only an increase in the share of individual assets in the auction, but also in the trading volumes themselves. After a lull in December, trading volumes grew from the beginning of the year and reached a peak on March 12, to which they have not risen since June 2019.
According to the analyst, the concentration of volumes around Bitcoin, Ethereum and stablecoins suggest that new prospects open up for projects in their ecosystems. At the same time, the position of assets that are trying to compete with Bitcoin or Ethereum may worsen.
It was previously noted that Tether's capitalization reached $ 8.77 billion, which allowed him to become the third-largest asset on the market for a short time.