CoinMarketCap has released data on the cryptocurrency market for August 2022. The announced data also revealed the most traded cryptocurrencies last month. According to the transferred details; The trading volume of the crypto market increased by 11.8 percent on the last day of August to $ 75.7 billion. The most traded cryptocurrencies of the month were Tether, Bitcoin and Ethereum.
Tether, which ranked first in the list in transaction volume, traded 40 percent more than Bitcoin, which ranked second during August. The trading volume of the popular cryptocurrency reached $1.54 trillion last month. With this; Statistics indicated that Tether’s market cap increased from $66.2 billion to $67.5 billion in 30 days. Bitcoin, on the other hand, ranked second with a monthly transaction volume of $1.1 trillion.
On the other hand; August has been quite a tough month for Bitcoin. The value of the popular cryptocurrency fell from $ 23,400 to $ 20,300 in the month. With this; In August, Bitcoin’s market cap dropped 12 percent, from $444.6 billion to $389 billion.
All cryptocurrencies except BNP lost value in August
According to other shared information; The monthly transaction volume of Ethereum, which is in third place, approached $ 710 billion last month. Ethereum, like Bitcoin, witnessed a price drop from $ 1,666 to $ 1,580 in August. The market value of the digital asset, which is the second most expensive cryptocurrency in the world, also fell from $ 201.3 billion to $ 193.9 billion in the same month.
Binance USD ranked fourth with a monthly trading volume of $224.7 billion. In the list, Binance USD is followed by USD Coin with a trading volume of 169.2 billion dollars, WETH with a trading volume of 46.6 billion dollars, BNP with a trading volume of 30.9 billion dollars, XRP with a trading volume of 29.4 billion dollars, and a trading volume of 27.3 billion dollars. Solana and Ethereum Classic followed with $27.1 billion in trading volume.
CoinMarketCap also pointed out that all cryptocurrencies except BNP experienced a depreciation and market cap drop in August. The value of BNP alone rose from $285 to $288 during the month. The popular cryptocurrency also managed to increase its market cap from $45.9 billion to $46.4 billion in August.