Cryptocurrencies have historically performed well in October, especially Bitcoin, which had an average return of above 18% in the tenth month over the past decade.
According to data presented by Crypto Presales, the largest cryptocurrency was up 7.3% last month and ranked as the second most traded crypto with close to $1.6trn in monthly trading volume. Here is the list of other crypto coins also ranked in the top 10 in October.
Ethereum Trading Volume Doubled, Bitcoin`s Up by 35%
After a historically low September, all cryptocurrencies on the top 10 list have seen their trading volume significantly increase in October. With $1.61trn in monthly trading volume, Tether returned to the number one spot, pushing Bitcoin to second place. Also, the monthly trading volume of the world’s most used stablecoin nearly doubled month-over-month, rising from $816.6bn in September.
Bitcoin, the second most-traded crypto in October, has seen its monthly trading volume jump by 35% month-over-month to $1.59trn. The CoinMarketCap data showed the 7.3% price increase had driven Bitcoin’s market cap to $398.9bn, almost a $30bn jump in a month.
Like Tether, Ethereum has also seen its monthly trading volume double in October. With $475.2bn in 30-day trading volume, way up from $204.6bn in September, ETH ranked as the third most traded coin in the crypto space.
Dogecoin Climbs to Fourth Spot, Gala Enters the Top 10
After months of low trading activity, Dogecoin jumped back among the top 10 most traded cryptos and placed in a high fourth position with $372.9bn in monthly trading volume. The price of the world’s eighth largest crypto surged by 96% last month, driving its market cap to $16.1bn, up from $8.1bn a month before.
With $157.4bn in monthly trading volume, up from $142bn in September, Binance USD ranked as the fifth most traded crypto. USD Coin remained sixth, but its trading volume jumped by 51% month-over-month to $116.2bn.
The Shiba Inu burn has not had much of an effect on the price of the meme coin, which rose by 8.7% last month. But with $25.9bn in monthly trading volume, SHIB ranked as the eighth most traded crypto in October. Solana follows with $24.2bn, up from $15.4bn in September.
Besides Dogecoin and Shiba Inu, Gala tokens also managed to rank on the top 10 list in October. The CoinMarketCap data show the NFT token hit $21.4bn in trading volume last month, more than Cardano or XRP.