Market action during June has seen a significant slump in trade volume, with the majority of the ten most traded cryptocurrencies experiencing a drop in volume of between roughly 17% and 57% when compared with May.
Also Read: ICO Round-Up: Social Media Influencers Bypass Ad Ban, Centra Tokens Deemed Securities
Month-Over-Month 30-Day Trade Volume Declines Across Crypto Markets
BTC has maintained its significant lead as the most traded cryptocurrency, with BTC pairings producing roughly $125.6 billion USD worth of trade over the course of the last 30 days. Compared with May’s 30-day volume of approximately $185 billion, the BTC markets have seen a 32% loss in trade volume.
Unlike last month, the combined volume of the second and third most traded cryptocurrencies combined surpassed that of BTC – with Tether and Ethereum producing roughly $130 billion in trade combined.
The 30-day volume of USDT has seen among the smallest percentage loss incurred by a top ten cryptocurrency – declining 17.2% from $93 billion last month to $77 billion during June. The monthly trade volume for ETH fell almost 30% from May’s $76.6 to approximately $53.8 billion this month.
EOS has held its position as the fourth most traded cryptocurrency during June, however, shed nearly 33% of its trading volume – dropping from $47.5 billion last month to roughly $32 billion during the last 30 days.
Volume Rankings Remain Mostly Stable During June
The 30-day trade volume for BCH pairings dropped significantly this month, with June’s $14.7 billion in trade comprising a 47.5% drop from May’s $28 billion.
Despite the monthly volume for LTC falling by 21% when compared with May, Litecoin has climbed from the 8th most traded cryptocurrency last month, with $11.9 billion in trade, to rank 6th for June with $9.3 billion.
XRP has maintained its position as the seventh most traded cryptocurrency this month, producing $8.3 billion in trade during the last 30-days. Compared with May, XRP has lost 39% of its trade volume, which fell from $13.7 billion to $8.3 billion.
Ethereum Classic was the only top ten cryptocurrency market by volume to see an increase in trading activity during June. The ETC markets produced $6.6 billion in volume this month – a roughly 1.5% increase over May’s $6.5 billion.
Of the ten most traded cryptocurrencies, TRON saw the greatest loss in volume. Trading activity for TRON pairings fell 57% from 6th position with $14 billion last month, to 9th in June with $6 billion.
QTUM was the tenth most traded cryptocurrency over the last 30 days with nearly $3.5 billion in trade.
Do you think the markets will continue to experience a decline in monthly trade volume? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
Want to create your own secure cold storage paper wallet? Check our tools section.
The post Volume Rankings Report for June 2018: Trading Activity Drops Across Crypto Markets appeared first on Bitcoin News.
Source: Bitcoin.com
Original Post: Volume Rankings Report for June 2018: Trading Activity Drops Across Crypto Markets
