The total daily trading volume indicates the liquidity and activity level of a cryptocurrency. Here is an overview of the approximate average daily trading turnover of the current top 10 cryptocurrencies by market capitalization.
1. Bitcoin (BTC)
As the most established and traded crypto, Bitcoin sees immense daily volume across spot and derivatives markets. Bitcoin’s daily turnover averages around $30 billion. As the crypto market leader, Bitcoin accounts for about 40% of total crypto volume.
2. Ethereum (ETH)
Ethereum is the second-largest cryptocurrency and also posts significant daily volume. ETH’s daily trading turnover is around $14 billion on average as it is traded extensively on major exchanges and powers the hottest DeFi trends.
3. Tether (USDT)
The leading stablecoin used for trading pairs, Tether has exploded in circulation and daily volume. USDT daily turnover approaches $90 billion, sometimes surpassing Bitcoin. It offers traders accessibility between cryptos and traditional currencies.
4. USD Coin (USDC)
As a major regulated stablecoin, USDC also shows high trading activity. USDC’s average daily volume is approximately $3.5 billion. It serves as a significant trading pair and DeFi building block.
The native token of Binance exchange, BNB has grown to a top 10 crypto. BNB posts average daily volume around $1.5 billion as the utility token for the world’s largest crypto exchange.
XRP daily trading activity typically exceeds $2 billion. The volume reflects XRP’s status as one of the most traded crypto crosses, especially in regions like Asia and Europe.
7. Cardano (ADA)
As one of the largest proof-of-stake blockchains, Cardano sees sizable interest from investors and traders. ADA’s average daily volume is approximately $700 million.
8. Solana (SOL)
The high-growth layer-1 SOL blockchain has rapidly entered the top 10 by market cap. SOL’s daily trading volume now averages around $1.2 billion as interest expands.
9. Dogecoin (DOGE)
Dogecoin maintains a passionate community of users which drives significant trading turnover. DOGE trades about $500 million worth of volume daily on average.
10. Polkadot (DOT)
DOT’s average daily trading activity hovers around $400 million. As Polkadot gains developer traction, trading activity may continue increasing.
This snapshot shows the commanding lead Bitcoin still holds by daily turnover, with Ethereum a distant second. Stablecoins like Tether and USDC also put up huge volume. Trading activity broadly correlates with position in market cap rankings.