![]() Three of these coins, baring BNB, are out of the top 100 coins however, they are being traded at a large rate for Bitcoin regardless. Where things do get interesting is the number of trades from PHX / BTC, more than BNB (Binance Coin) / BTC, as well as AST / BTC and GVT (Genesis Vision) / BTC. Ripple (XRP) makes an expected appearance in a pair with Bitcoin at number four, which is not surprising. In second place is ETH / BTC showing the two top coins by market cap are heavily traded, but there is also evidence further down the list of Ethereum being traded for the more supposedly stable Tether. The indication is that many may feel that it is worthwhile putting their cryptocurrency into a stable coin to avoid the volatility of the bearish Bitcoin market while still holding onto cryptocurrencies. Be that as it may, it has long had large transaction volumes, and numbers, and this is echoed on Binance. Binance has come under heavy regulatory pressure over the past few months, causing it to amend how it operates in some countries. Tether has a long and sordid history with many worrying about its legitimacy as a stablecoin, especially after it lost its pegging earlier this month. Interest in Cryptocurrency Leaders Drops: New Players Likely on the Rise Tether’s importance These more obscure coins are being traded for BTC, which is understandable, but it is interesting to note just how many transactions are being made for such obscure coins. But not far down that top 10 list, there are appearances for coins like Red Pulse Phoenix (PHX) and Airswap (AST) which are closer to 200 than 100 on the market cap ranking. They have been happy to accept all comers, but what is more surprising to see is that some of these smaller coins are making a big splash in trading numbers.Ī look at the top 10 trading pairs by number of transactions on Binance shows the usual players at the top however, one might see it strange that Tether tops the trading numbers: Top 10 Trading Pairs on Binance and Bitfinex Show Interesting ExchangesīTC (Bitcoin) / USDT (Tether) has by far the biggest trading numbers with ETH (Ethereum) / BTC and ETH / USDT following. Binance has been in the news for sometime now with its listing acceptance for a number of smaller and lesser known coins, some of which are now being donated to charity.
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