After a significant slowdown in December, the last month of one of the hardest years for the entire crypto industry, the global crypto trading volume spiked in January, with all major cryptocurrencies seeing double and triple-digit month-over-month growth.
According to data presented by Bitcoin Casinos, Tether, Bitcoin, and Binance USD remained the three most traded digital coins in the crypto space, but their trading volumes jumped high above the values seen a month before. Here is the list of other crypto coins that also ranked in the top 10 in January.
Bitcoin’s Monthly Trading Volume Jumped 126%, Binance USD Surged by 158% Month-over-Month
The world’s largest and most expensive crypto has begun 2023 on a positive note, bringing some long-awaited optimism to the market. For the first time in six months, Bitcoin climbed above $23,000 and was up 38% in January, while its trading volume jumped 126% month-over-month.
The CoinMarketCap data show Bitcoin’s trading volume hit $950.6bn last month, up from $420.1bn in December. The world’s most traded crypto, Tether, saw its trading volume jump by 61% in this period, rising from $603.6 in December to $977.1bn in January.
However, Binance USD and Ethereum, the third and fourth most popular cryptos to trade last month, saw even more impressive growth. Statistics show Binance USD trading volume hit nearly $320bn in January, a massive 158% increase month-over-month, while Ethereum’s trading volume surged 191% to $288.2bn.
Cryptonex (CXN), the native coin of the Cryptonex exchange platform, ranked as the fifth most-popular crypto to trade in January, with $179.4bn in monthly trading volume.
Aptos Trading Volume Spiked 366% in January
Like the top five cryptocurrencies, USD Coin also witnessed considerable growth in monthly trading volume, rising by 83% to almost $140bn in January. However, Aptos has seen the biggest month-over-month growth.
In December, Aptos’ trading volume stood at $18.1bn and then spiked 366% to $84.4bn last month. The CoinMarketCap data show Aptos was also the crypto with the biggest price growth in January. In just 30 days, Aptos’ value surged by 340% and hit over $16.3 last week, pushing its market cap above $2.6bn, up from $472.6 in December.
After their trading volumes slumped in the last month of 2022, XRP, WETH, and Shiba Inu returned among the ten most-traded cryptos. Statistics show XRP hit $42bn in monthly trading volume, ranking eighth on the list. Shiba Inu and WETH followed, with $34.8bn and $32.3bn, respectively.