October Volume Report: Weakest Monthly Trading Activity of 2018

Market Updates

On the eve of the 10th anniversary of the initial publication of the Bitcoin whitepaper, the cryptocurrency markets recorded their weakest month for trading volume in all of 2018. Most of the leading markets saw a significant decline in trading activity throughout October, but NEO, TRX, QTUM and ZEC posted month-over-month volume increases.

Also Read: Venezuela Begins Public Sale of National Cryptocurrency Petro

BTC, USDT, ETH and EOS Hit
Lowest Points of the Year

October Volume Report: Weakest Monthly Trading Activity of 2018In the last 30 days, approximately $109.5 billion worth of BTC has changed hands, resulting in an 11.9 percent decline in trading activity from $124.3 billion in September — the weakest monthly volume posted in 2018 thus far. The drop in BTC trading activity coincided with a similar plunge in USDT trading volume. Despite fears of a widespread USDT “untethering,” as well as the eradication of 30 percent of Tether’s circulating supply, the trading volume of USDT fell by just 12.6 percent, from $86.5 billion in September to $69.5 billion.

Coinbase 2

October saw $41.2 billion in trade for ETH pairings, down 30 percent from the $53.8 billion recorded in the preceding month. EOS, meanwhile, returned to its position as the fourth most-traded cryptocurrency, with a 30-day trade volume of $13.94 billion — down 30 percent from $20 billion in September.

XRP and LTC Hit Second-Strongest Levels Since May

October Volume Report: Weakest Monthly Trading Activity of 2018XRP has held its top-five volume ranking for the second consecutive month, despite seeing a 45 percent reduction in trading activity. October saw $13.6 billion in trade across XRP pairings, down from $24.7 billion in September.

BCH was the sixth most-traded cryptocurrency in October, hitting $9.5 billion in trade volume over the past 30 days. BCH saw a 26 percent reduction in trading volume, down from $12.9 billion in the preceding month.

LTC ranked as the seventh most-traded cryptocurrency for the third consecutive month. About $9.14 billion of LTC changed hands in October, down 4.8 percent from $9.6 billion in September.

DASH posted a 30-day trade volume of 5.16 billion, settling at eighth place for the second consecutive month. Trading of the currency fell 20.6 percent from $6.5 billion in September.

NEO Breaks Into Top 10

NEO saw a massive 76.25 percent increase in trade volume in October, to rank ninth for the month. Approximately $4.6 billion worth of the currency has changed hands in the past 30 days, up from $2.61 billion in September.

ETC fell one position to rank 10th on the list of the most-traded cryptocurrencies in October. It hit a 30-day trading volume of $4.2 billion for the month, down 17.65 percent from $5.1 billion in September.

TRON, QTUM, and ZEC Post Modest Volume Gains

October Volume Report: Weakest Monthly Trading Activity of 2018TRX hit $3.67 billion in trade volume this past month, up 4.25 percent over the preceding month’s 3.52 billion. TRX was the 11th most-traded cryptocurrency in October, moving up one rank from September.

CKUSD posted a 16.5 percent drop in trading volume at $3.4 billion, down from $4.07 billion in September. CKUSD ranked 12th for the month, sliding two positions from the preceding four-week period.

Despite recording a slight 2.5 percent increase in 30-day trade volume, QTUM fell two places to 13th on the list of the most-traded cryptocurrencies in October. About $3.73 billion worth of the currency traded hands for the month, up from $3.64 billion in September.

Trading of ZEC fell 4.16 percent month over month to $3.5 billion. Despite rising slightly by volume from $3.36 billion in September, the currency slid one place to rank as the 14th most-traded cryptocurrency in October.

BIX climbed two places to rank as the 15th most-traded cryptocurrency over the past 30 days. The currency posted a monthly trading volume of $1.42 billion, down nearly 30 percent from $2.02 billion in September.

Stellar recorded a monthly volume of $1.33 billion, sliding one position to rank as the 16th most-traded cryptocurrency for October, following three consecutive weeks during which it ranked 15th. Trading of Stellar fell 42.17 percent by volume from $2.3 billion in September.

New Entrants in Top 20

October Volume Report: Weakest Monthly Trading Activity of 2018The declining trading volume across many leading markets saw several cryptocurrencies sneak into the top 20 rankings for the first time in recent months. ZB, for example, ranked 17th with a 30-day trade volume of $1.16 billion, following by XIN at $988 million.

BTM ranked 19th for the second consecutive month, with $920.8 million traded, despite falling 31.3 percent by volume, from $1.34 billion in September.

BNB, meanwhile, settled at 20th place in October, with $853.6 million worth of the currency changing hands over the last 30 days.

Do you think that the 10th anniversary of the Bitcoin whitepaper will drive greater trading volume across the cryptocurrency markets? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

October Volume Report: Weakest Monthly Trading Activity of 2018 1
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 47,657.00
ethereum
Ethereum (ETH) $ 3,582.49
cardano
Cardano (ADA) $ 2.43
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 423.50
xrp
XRP (XRP) $ 1.10
solana
Solana (SOL) $ 154.50
polkadot
Polkadot (DOT) $ 34.84
dogecoin
Dogecoin (DOGE) $ 0.239806
usd-coin
USD Coin (USDC) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 47,657.00
ethereumEthereum (ETH)
$ 3,582.49
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 632.83
litecoinLitecoin (LTC)
$ 187.67
bitcoinBitcoin (BTC)
40.306,15
ethereumEthereum (ETH)
3.029,91
tetherTether (USDT)
0,845755
bitcoin-cashBitcoin Cash (BCH)
535,22
litecoinLitecoin (LTC)
158,72
bitcoinBitcoin (BTC)
34,349.97
ethereumEthereum (ETH)
2,582.17
tetherTether (USDT)
0.720775
bitcoin-cashBitcoin Cash (BCH)
456.13
litecoinLitecoin (LTC)
135.27

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin47,917 0.67 % 0.61 % 3.97 %
Ethereum3,611.0 1.16 % 3.42 % 3.26 %
Cardano2.460 1.40 % 3.46 % 0.72 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin425.62 0.31 % 2.42 % 2.80 %
XRP1.100 0.56 % 0.45 % 0.28 %
Solana156.06 0.32 % 2.70 % 17.58 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2413 0.83 % 1.70 % 5.96 %
USD Coin1.000 0.09 % 0.02 % 0.31 %

bitcoin
Bitcoin (BTC) $ 47,657.00
ethereum
Ethereum (ETH) $ 3,582.49
cardano
Cardano (ADA) $ 2.43
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 423.50
xrp
XRP (XRP) $ 1.10
solana
Solana (SOL) $ 154.50
polkadot
Polkadot (DOT) $ 34.84
dogecoin
Dogecoin (DOGE) $ 0.239806
usd-coin
USD Coin (USDC) $ 1.00