Messari: Bitcoin, Ethereum and Tether account for 90% of the real trading volume
Messari researcher Wilson Withiam concluded that at present about 90% of the real cryptocurrency trading volume is accounted for by Bitcoin, Ethereum and the Tether USDT token.
According to his observations, a year ago this indicator was 75%. Thus, investors prefer the two most capitalized cryptocurrencies and the most popular stablecoin.
Withiam noted that the growing share of the USDT market is not surprising, since "the world continues to see the dollar as a means of maintaining value, especially in times of crisis."
"Stablecoin damand shows no signs of slowing down" - the expert emphasized.
The Messari spokesman added that amid global “market chaos,” activity on exchanges has grown.
"After a lackluster Dec, real vol surged to start the year, peaking on Mar 12 and revisiting levels not seen since Jun 2019”
In conclusion, the analyst wrote that the current consolidation of activity around top assets promises good prospects for projects working with BTC and ETH, as well as stablecoins. However, the future of other coins looks less encouraging.
"Bull runs spark widespread interest in new networks. Uncertainty elicits the opposite" -concluded the researcher.
Recall that in the first quarter, trading volume on popular bitcoin exchanges grew by 61%.