Stablecoins are All the Rage but Here's the Top 5 Trading Volume Rankings

5 Top Stablecoins In Terms of Trading Volume

The competition among stablecoins is heating up in the crypto world, and interestingly, very few investors seem to pay attention to them, especially if they are not pegged to the US Dollar. Let’s take a look at the top 5 stablecoins in the cryptocurrency market in terms of trading volume.

Tether’s USDT

This is perhaps the most popular dollar-pegged cryptocurrency in the market. It’s no surprise that the coin is the second-most traded digital asset behind bitcoin, accounting for more than $3 billion in a 24-hr period. Tether has also broken record for generating more trading volume than its market capitalization value on almost a daily basis. The top exchanges for USDT activity include OKEx, Huobi, Binance, and BitForex.

CK USD

Heard about CK USD? Well, not many people are aware of this dollar-pegged cryptocurrency, but it has been picking up very fast recently. It seems traders are looking for options to explore beyond Tether, which has dominated the market as the most stable coin. Currently, statistics show that the 24-hr trading volume of CK USD is around $142 million. Allcoin and BCEX are two major exchanges where CK USD is used most, with the latter controlling 60% of the market through its ETH and BTC pairs. This is an interesting development worth following.

TrueUSD

This stablecoin was catapulted to a new level thanks to its listing on Binance and Bittrex. Currently its trading volume is around $15 million daily, but it’s slowly picking up, which is a good thing for the market. The exchanges where TrueUSD is used mostly include HBUS, Zebpay, CoinTiger, Bittrex, and Binance.

Dai

Before stablecoin competitors emerged, Dai was a good bet, but is now becoming less popular compared to some of the new ones being released into the market. It accounts for a daily trading volume of around $13 million, which is not bad considering that it’s poised to have a come-back and compete with the likes of Tether and TrueUSD. The coin is primarily traded on Keyber Network, OasisDEX, Ethfinex, Radar Relay, and HitBTC.

BitCNY

This is not a dollar-pegged cryptocurrency, but it’s doing very well when it comes to stability. This coin is, instead, linked to the Chinese Yuan and primarily issued on BitShares protocol. It accounts for a daily trading of around $12.2 million, showing that it is popular among traders. The exchanges where BitCNY is mostly traded include OpenLedger DEX, BitShares Asset Exchange, and CoinTiger.

Conclusion

Achieving stability in the cryptocurrency market, which is known to be very volatile, is not an easy thing. In one way or another, these coins have been able to maintain their prices, making them great stablecoins for traders.

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Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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