Altcoins' Trade Volume Increases in September

Despite Bitcoin's stagnation – which, considering the perturbations from the beginning of the year, is now a good thing – numerous other cryptocurrencies have done very well during the past month..

...So well, in fact, that almost all top 20 altcoins saw the increase in their market share and trade volume.

Crypto's New Wave

The first ones to mark a surge in trading were Ethereum (ETH) and Tether (USDT) – the latter's trade volume rose by 4.5% month-on-month (total of $86.5 billion in Tether were exchanged during September) while Ethereum rose by 17.6%, to $53.8 billion traded.

In comparison, Bitcoin's trade volume increase in September was merely 0.24%, for a total of $124.3 billion traded. This marks September as BTC's second weakest month of trade in this year.

Last month’s biggest winner has to be Ripple (XRP) 0 this crypto had a most dramatic, meteoric rise in trade volume and is now the 4th ranked cryptocurrency in terms of trade – for the past several months, it was on a steady 7th place...

...XRP's trade volume triple – it increased by 216% from August's $7.8 billion to September's $24.7 billion.

Pecking Order

Fifth place belongs to EOS with $20 billion in trade volume, with a monthly increase of 10.5% increase...

...Followed closely by Bitcoin Cash's $12.9 billion traded, but with a much bigger overall rise of 26.5% over August's $10.2 billion.

Litecoin was in number seven. It traded $9.6 billion which is a total increase of 34% month-on-month, this asset's strongest performance since May.

Dash, Ethereum Classic (ETC) and CKUSD comprise the remainder of top ten most traded cryptocurrencies in September – with first one rising by 23.5%, ETC dropping by 35.5% (the only one in top ten to fall) but still trading $5.1 billion. Finally, CKUSD increased by 21%.

Source:

“September Volume Report: Altcoins See Increase in Trade Activity”, Samuel Haig, bitcoin.com, October 5, 2018.