Bitcoin Bear Market Blues? Here’s Top 6 In-Demand Crypto Coins To Research
The Top 6 In-Demand Digital Currencies
Since the turn of the year, a majority – if not all major digital currencies have been performing dismally. Despite the evident nosedive regarding the performance of cryptocurrencies, the interest in this asset class has somewhat persisted. According to a study by Statista, the following are the virtual currencies with the highest demand, as per their purchase volumes in US dollars.
The list below denotes the highly ranked cryptos form the in ascending order.
Although surprising, Ethereum Classic has been gaining considerable traction amongst members of the crypto community lately. For this reason, its trading volumes have surpassed more established coins such as Dash, Ripple and Litecoin. Between January and August 2018, Ethereum Classic recorded an impressive $254.3 million in trading volumes.
Few months after its inception, it seemed that Bitcoin Cash was destined for failure. However, the coin has performed remarkably well despite the contentiousness around it. In the first eight months of 2018, its trading volumes amounted to $420.1 million.
While this figure is comparatively low, it is worth noting that Bitcoin Cash was only introduce a year ago.
Since the launch of its mainnet, the popularity of EOS has increased by a substantial margin. Seemingly, many investors bought larges stocks of EOS prior to the mainnet launch.
For a currency that is rarely on the limelight, a return of $746.5 million is an incredible feat.
Even though Ethereum is still the second most significant digital currency by market capitalization value, it falls to position three reading purchase volumes in 2018. This is understandable, given the unpredictability of the market since the year turned. Over this period, the trading volume for Ethereum has reached the $1.3 billion mark.
Tether is widely known to crypto enthusiast as a stablecoin backed by the US dollar. Nevertheless, investors have expressed concerns over its continuously increasing supply rate. In 2018, traders have purchased $2.5 billion worth of Tether, but it is not certain whether this trend will persist.
As expected of the world’s first and top-ranked digital currency, Bitcoin has massed the largest trading volume in 2018. Throughout 2018, investors have bought $4 billion worth of Bitcoin. Experts predict that this value will increase further due to the prevailing low prices of Bitcoin against the US dollar.