After a volatile February, which made crypto traders more cautious, the global crypto trading volume spiked in March, with all major cryptocurrencies seeing double-digit month-over-month growth.
According to data presented by BitcoinCasinos.com, Bitcoin, Tether and Ethereum remained the three most traded digital coins in the crypto space. However, their trading volumes jumped above the values seen a month before. Here is the list of other most traded crypto coins in March.
Bitcoin’s Price Rally Drove its Monthly Trading Volume to over $1.1T
The world’s largest and most expensive crypto has seen its price rally to this year’s high. Bitcoin climbed above $28,000 and was up 21% in March, while its price jumped 67% in the three months of the year. Also, its trading volume jumped 73% month-over-month.
The CoinMarketCap data show Bitcoin’s trading volume hit $1.19trn last month, up from $686.2bn in February. The world’s leading stablecoin and the second most-traded crypto in March, Tether, saw its monthly trading volume increase 11% month-over-month to $1.17trn.
Statistics show Ethereum follows Bitcoin when looking at a trading volume increase. Ethereum’s trading volume stood at $198.9bn in February. This figure jumped to $324.4bn in March, showing a huge 63% month-over-month increase. Also, the world’s second most-expensive crypto saw its price jump 10% last month and 48% in three months of the year, reaching over $1,800 on March 29.
USD Coin and Binance USD ranked fourth and fifth on the list of most traded cryptos. Still, while USD Coin’s trading volume jumped in March, Binance USD saw a double-digit drop.
Last month, crypto investors traded $157.6bn worth of USD Coin tokens, 56% more than a month before. On the other hand, the trading volume of Binance USD dropped to $104.9, showing a 46% decrease month-over-month.
XRP and Dogecoin Climbed Among the Most-Traded Cryptos in March
The CoinMarketCapa data show significant changes in the other half of the list compared to February.
Ankr, Optimism, Filecoin, and Polygon, all ranked among the most-traded cryptocurrencies that month, didn’t even make it to the list in March.
On the other hand, XRP saw its trading volume hit $96.6bn and ranked as the sixth most-traded digital coin in the crypto space. WETH was one place behind with $52.8bn in 30-day trading volume, showing a 54% increase month-over-month.
After months of much lower trading activity than seen in 2022, Dogecoin has seen its monthly trading volume jump to $19.1bn and ranked as the ninth most-traded crypto in March. Conlux followed with $18.7bn in 30-day trading volume.