The ninth month of the year is usually one of the worst for crypto prices, especially for Bitcoin and Ethereum, which have seen their values plunge every September for the last five years.
According to data presented by Crypto Presales, Bitcoin’s latest price dip to below $18,500 pushed more investors to stack up on their assets, driving its monthly trading volume above $1.1trn. Here is the list of other most-traded cryptos in September.
Bitcoin Most Traded Crypto in September, ETH Trading Volume Down by 71% Month-over-Month
The world’s largest crypto, Bitcoin, has historically had its worst month of the year every September, and the string continued in 2022. On average, the most expensive crypto loses around 6% of its value in September.
This year, it slipped by 7%, falling to $18,454 on September 19, the deepest point in nine months. Still, the latest price dip pushed more Bitcoin investors to stack up on their assets, some of them for the first time. According to CoinMarketCap data, Bitcoin was the most-traded crypto in September, with a monthly trading volume of $1.18trn, up from $1.1trn a month before.
Tether, usually the most-traded crypto, dropped to second place last month. The 30-day trading volume of the world’s most used stablecoin stood at $816.6bn in September, almost 50% less than in August.
The world’s second-largest crypto also saw its monthly trading volume plunge. Statistics show that Ethereum’s 30-day trading volume stood close to $710bn in August and dropped by 71% to $204.6bn in September.
MOON Coins hit $44.6B in Monthly Trading Volume, more than Solana and BNB
With $142bn in 30-day trading volume, Binance USD ranked fourth on the list. However, statistics show its trading volume dropped 36% month-over-month, down from $224.7bn in August.
XRP jumped three spots and ranked as the fifth most popular crypto, with $107.6bn in monthly trading in September, up from $29.4 a month before that. On the other hand, USD Coin slipped from fifth place in August to sixth place last month after its trading volume more than halved month-over-month to $76.8.
The CoinMarketCap data showed that, compared to August, one new crypto entered the most-traded list. With $44.6bn in monthly trading volume, more than Solana and BNB, r/CryptoCurrency Moons ranked seventh on the list of most popular coins.
BNB slipped one spot to eight, with a monthly trading volume of $18.2bn, down from $30.9bn in August. Solana remained the ninth most popular crypto to trade, but its trading volume plunged by 43% month-over-month to $15.4bn. Terra Classic rounds the top ten list, with $15.1bn in 30-day trading volume.