More investors are choosing digital coins as an investment asset, with some cryptocurrencies drawing much more attention than others.
Besides Bitcoin, Ethereum, and Tether, as the world’s three most traded cryptocurrencies, some other crypto coins also witnessed an increased trading volume in July.
Here is a list of the ten most traded cryptos in July, according to data from Block Arabia.
Bitcoin’s trading volume almost halved, Ethereum down by 43% in a month
According to data from CoinMarketCap, Tether still represents the most important coin in the crypto space, with a monthly trading volume of $1.48 trillion in July, nearly the same value as in June. Still, its market cap slightly dropped last month to $61.8 billion, compared to $62.4 billion on the first day of July.
Other top cryptocurrencies witnessed a significant drop in their 30-day purchase volume.
In July, the price of the world’s most expensive cryptocurrency, Bitcoin, jumped by 26% reaching $41,963 last week. However, the trading volume of the leading crypto coin almost halved in the last 30 days, falling from around $1.2 trillion in June to $642.7 billion in July.
Ethereum also witnessed a significant drop, with its monthly trading volume falling by 43% to $505.9 billion in July. However, its market cap increased by almost 30% during this period, rising from $237.8 billion to $303.5 billion.
EOS, the fourth most-traded crypto in June, didn’t make it to the top 10 list last month. In fact, statistics show its trading volume plunged by 92% compared to June, falling from a massive $288.9 billion to only $21 billion.
Although its trading volume dropped by 25% to $194.4 billion in July, Dogecoin still climbed one spot to the fourth most-traded crypto globally. Binance USD rounds the top five list with $125.2 billion in monthly trading volume.
PlayDapp and WETH trading volume surged in July
Statistics show significant changes in the other half of the list. Polygon, Bitcoin Cash, Chainlink, and Stellar, which all witnessed impressive trading volume in June, also didn’t make it to the top ten list last month.
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The trading volume of XRP, the ninth most-traded crypto in June, plunged by 53% to $76.7 billion. Still, the native cryptocurrency for products developed by Ripple Labs ranked as the seventh most-traded crypto in July.
Compared to June, two new cryptos entered the most-traded list. With $92.8 billion in monthly trading volume, PlayDapp ranked sixth on the list of most popular coins. Statistics also show the price of the token used in the PlayDapp Blockchain gaming ecosystem to purchase and sell NFT items within games, surged by 233% during this period, jumping from $0.1681 to $0.5608.
WETH, or Wrapped Ethereum, ranked seventh on the list, with $61.7 billion in 30-day purchase volume.
USD Coin and Ethereum Classic close the top ten list, with $55.8 billion and $52.7 billion in monthly trading volume, respectively.
