The Best Cryptocurrencies in August According to Market Volume

Cryptocurrencies

Cryptocurrencies like Bitcoin and other altcoins have stabilized to move towards a bullish run. Bitcoin’s price has reached the US$45,000 mark showing stronger results in the future and leveraging other cryptocurrencies to go green. Ethereum’s new update has also boosted its price and the rest of the market. With so much action happening in August, this is the right time to buy cryptocurrencies and hold on to the investments. Here is the list of the top cryptocurrencies according to their 24-hour market volume.

1. Tether

With a daily volume of US$75 billion, Tether is the fastest moving cryptocurrency in the market (at the time of writing). Unlike other cryptos, Tether is a stable coin whose value will remain US$1, maintaining US$1 in reserves for every Tether issued. It experiences the least market volatility and is a low-risk investment.

2. Bitcoin

Bitcoin stands strong with a 24-hour market volume of US$30 billion. As its price grew above the US$45,000 mark, investors have started to see returns again. The first cryptocurrency was created as an alternate to fiat currencies, the value of Bitcoin influences other cryptos in the market, and right now, the market is moving towards a bullish run.

3. Ethereum

Ethereum has a 24-hour volume of US$20 billion and with its new update launched, Ethereum is only going to move faster. Second to Bitcoin in market cap, Ether is the token that powers the Ethereum network that has transformed the DeFi industry and continues to do so with new launches and developer-friendly updates.

4. XRP

XRP is a utility token. Its blockchain was created to facilitate cross-border transfers of cryptos and fiat currencies. Several banks support XRPs utility and the number of transfers using XRPs network has increased over the years, vouching for its strong potential in the cryptocurrency market. 24-hour market value stands at US$6 billion.

5. Dogecoin

Dogecoin’s daily market volume is US$5 billion. Despite its satirical intention of creation, Dogecoin has become a legitimate investment prospect over the years. What started as the meme coin has now become of the 10 biggest cryptocurrencies in the market, with billionaires like Elon Musk endorsing its potential. It is also one of the cheapest cryptocurrencies to buy, which is one of the reasons Dogecoin is a fast-mover

6. Binance USD

Binance USD is the fork of Binance Coin, powered by one of the biggest crypto exchanges. Its value is pegged to the US dollar and its 24-hour market volume is US$5.5 billion.

7. Cardano

Cardano is a public blockchain platform that works with the proof-of-stake system. Its network can facilitate peer-to-peer transactions with Ada, its internal crypto token. Cardano was founded in 2015 by Ethereum’s co-founder Charles Hoskinson. Since then, its value grew to make it one of the five biggest cryptocurrencies, with a 24-hour volume of US$5 billion.

8. Polkadot

Polkadot has an ambitious project, to unite all cryptocurrency blockchain. Once successfully done, Polkadot will become stronger and you would not want to miss out on that bull run. Created by Ethereum’s Co-founder, experts predict it will reach the US$50,000 mark soon.

9. USD Coin

USD Coin is another stable coin, whose value is pegged to the US dollar. With every USD Coin purchased, the investor will be assured US$1 and a token that can withstand market volatility better than most cryptocurrencies. USD Coin is one of the most popular stable coins with a daily volume of US$3 billion.

10. Binance Coin

Binance coin is the token used on the Binance exchange, one of the largest cryptocurrency exchanges in the world. It’s the fourth-largest cryptocurrency in the market and its value will continue to grow as long as there is activity on the Binance exchange platform. At the moment, its 24-hour market volume is US$2.11 billion.

Ethereum has a 24-hour volume of US$20 billion and with its new update launched, Ethereum is only going to move faster. Second to Bitcoin in market cap, Ether is the token that powers the Ethereum network that has transformed the DeFi industry and continues to do so with new launches and developer-friendly updates.

Source: https://coingraph.uno/2021/08/29/the-best-cryptocurrencies-in-august-according-to-market-volume/