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.
Data from Block Arabia shows that 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 5 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 $2.8 trillion in monthly trading volume, almost triple that of the second-ranked Bitcoin. However, statistics show this figure slipped to around $2.2 trillion 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.Â
Also, data from CoinMarketCap shows that Bitcoin remained the second most-traded coin in the crypto space, with a monthly trading volume of $1.2 trillion, 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 $646 billion in October, compared to $750 billion a month before.
Although its 30-day trading volume dropped by $100 billion, 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 $182 billion, down from $192 billion 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 $106.7 billion.
Also Read: World’s Leading Cryptos Close to Reaching New Record Valuations, Dogecoin Lags Behind
Axie Infinity hits the top 10 list
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 $104.2 billion.
The CoinMarketCap data showed that, compared to September, two new cryptos entered the most-traded list. With $89 billion 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 $87.3 billion in 30-day purchase volume. Also, statistics show the market cap of AXS tokens soared by more than 31,000% YTD and hit over $9 billion last week.
XRP closed the top ten list, with $85 billion in monthly trading volume, down from almost $150 billion in September.
