Data: USDT becomes the only cryptocurrency with an average daily trading volume of more than $1 billion

Bitcoin trading volumes continued to decline, falling another 16% this week to $13 billion, according to CoinMarketCap.

According to BitcoinTradeVolume, Bitcoin's actual daily trading volume is $430 million. Data provider Messari points out that the only cryptocurrency with an average daily trading volume of more than $1 billion is USDT. Currently, USDT's daily trading volume is $1.5 billion, while USDC's daily trading volume is only $32 million. As time goes by, the trading volume of stablecoins will most likely only continue to grow, and this situation will attract close attention from regulators.

Bitcoin lost about a percentage point during the week, and at the start of the new working week, the coin was trading around $9,200. The leading stock indexes have also been in a sideways price trend over the past week. This weak momentum can be seen as the calm before the storm. Participants in the cryptocurrency market froze in anticipation of a decisive new factor that would bring the market out of its impasse.
At the same time, we are witnessing a continued decline in BTC trading volumes. According to CoinMarketCap, they fell another 16% in a week to a level of around $13 billion. If we consider data from aggregators focused on “real volumes,” the picture becomes even bleaker. According to BitcoinTradeVolume, Bitcoin’s real trading volume is $430 million per day.
Data provider Messari notes that the only cryptocurrency with a daily trading volume of more than $1 billion is the Tether (USDT) stablecoin. Currently, this coin shows $1.5 billion per day. The closest stablecoin in terms of volume is USD Coin (USDC), which only shows $32 million per day. It is likely that stablecoins will only grow over time.
This situation will attract close attention from regulators. If Bitcoin itself is a "project" whose value soared to $20,000 and was easily cut several times while still driving thousands of retail investors out of the market, then stablecoins are already on the playing field for banks. On the basis of stable cryptocurrencies, integration with traditional banking is likely, although initially this approach will bring resistance.
There are several possible scenarios for volatile cryptocurrencies. One of them is that after the formation period is over, the value of the coin is fixed around a certain price level. Ethereum and other projects that are beyond speculative interest may follow this scenario. On the other hand, Bitcoin and other highly volatile digital currencies will either have to accept the "tulip mania" state or undergo network upgrades to attract non-speculative interest.
The crypto market is small compared to traditional markets. Currently, it may have a particularly strong impact on the prospects of digital currencies due to its linkage with the stock market and the fact that institutional investors consider Bitcoin as a risky asset. The maneuverability of the crypto market is extremely limited, and any major decision by institutional investors will cause a huge shock. Unfortunately, the probability of a "growth wave" occurring in this situation is very low.

Source: BW Blue Finance