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Tether tops most traded cryptos in July, Bitcoin-Ethereum see drop

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Tether, Bitcoin and Ethereum remained at the top of the list of digital coins as an investment asset in July, with the latter two losing ground, as some cryptocurrencies are drawing much more attention than others.

According to data presented by BlockArabia.com, some other crypto coins also witnessed an increased trading volume last month.

CoinMarketCap showed Tether still represents the most important coin in the crypto space, with a monthly trading volume of $1.48 trln in July, nearly the same value as in June. Still, its market cap slightly dropped last month to $61.8 bln, compared to $62.4 bln on the first day of July.

Other top cryptocurrencies witnessed a significant drop in their 30-day purchase volume.

During 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 trln in June to $642.7 bln in July.

Ethereum also witnessed a significant drop, with its monthly trading volume falling by 43% to $505.9 bln in July. However, its market cap increased by almost 30% in this period, rising from $237.8 bln to $303.5 bln.

EOS, the fourth most-traded crypto in June, didn’t make it to the top ten list last month. In fact, statistics show its trading volume plunged by 92% compared to June, falling from a massive $288.9 bln to only $21 bln.

Although its trading volume dropped by 25% to $194.4 bln in July, Dogecoin still climbed one spot to the fourth most-traded crypto. Binance USD rounds the top five list with $125.2 bln in monthly trading volume.

 

PlayDapp and WETH 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.

The trading volume of XRP, the ninth most-traded crypto in June, plunged by 53% to $76.7 bln. Still, the native cryptocurrency for products developed by Ripple Labs ranked as the seventh most-traded crypto in July.

The CoinMarketCap data showed that, compared to June, two new cryptos entered the most-traded list. With $92.8 bln in monthly trading volume, PlayDapp ranked sixth on the list of most popular coins.

Furthermore, statistics show the price of the token used in the PlayDapp Blockchain gaming ecosystem to purchase and sell NFT items within games, surged by 233% in this period, jumping from $0.1681 to $0.5608. WETH, or Wrapped Ethereum, ranked seventh on the list, with $61.7 bln in 30-day purchase volume.

USD Coin and Ethereum Classic close the top ten list, with $55.8 bln and $52.7 bln in monthly trading volume, respectively.