Bitcoin news update
Pairings Of 6 Cryptocurrencies Comprises 69% Of Total Crypto volume
cryptocurrency markets (542 tokens) generated less than $1,000 USD in 24-hour trade volume. The report also found that 49.3% of altcoin markets (803 tokens) had produced less than $10,000 in trade volume, and that 67.3% (1,096 tokens) posted less than $100,000 in trade volume.
Just 15.3% cryptocurrencies produced a trade volume of $1 million or higher, and only 6.3% of markets produced $5 million or more in 24-hour
Analysis conducted by Diar has indicated that only a minority of cryptocurrencies represent the vast majority of trading volume in the virtual currency markets – with only 0.36% of tradable cryptocurrencies found to have comprised 69% of the total trade volume of the entire cryptocurrency markets.
Also Read: The Poor Flip, the Rich Hodl, Startup Finds Out Tracing Its Tokens
Liquidity Across Majority of Cryptocurrency Markets “Near Non-Existent”
Pairings of 6 Cryptocurrencies Comprises 69% of Total Crypto VolumeA recent report published by Diar has found that over of half of the trading volume of more than 1,600 cryptocurrency markets was produced by the pairings of just five virtual currencies – BTC, XRP, ETH, BCH, and LTC. The report cites Coinmarketcap data recorded on the 18th of June, 2018.
BTC pairings were found to comprise approximately 33% of the roughly “$12 [billion] in traded volume at press time for 18 June 2018.” ETH pairings represented 12% of total volume, followed by BCH with 3%, and XRP and LTC with 2% each. In addition, USDT pairings were found to comprise 17% of the total trade volume of the cryptocurrency markets. The combined volume of all other altcoin markets listed on Coinmarketcap was found to have constituted just 31% of trade volume