For many leading markets, February produced the largest monthly volume since the first quarter of last year, with 30-day BTC trade activity surpassing $200 billion, and ETH exceeding $100 billion.
Also Read: Report: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018
BTC Volume Surpasses $200 Billion for February
February saw the highest volume for BTC trade in one year, with BTC pairings generating nearly $206.37 billion in trade during the last 30 days.
The increase in trade activity was driven by the run up to $4,000 during the middle weeks of February, with volume having since retraced amid sideways consolidation. The surge in activity comprised a 34% gain in trade activity month-over-month.
USDT trade also produced its heaviest month of trade since the first quarter of 2018, with $177.12 billion worth of tether changing hands. USDT trade activity increased by 56.50% when compared with January.
30-Day ETH Volume Surpasses $100 Billion
Monthly ETH trade activity reached a one year-high during 2018, with $104.46 billion worth of ethereum having been traded during the last 30 days. As such, ETH trade increased by 34.40% month-over-month.
During February, EOS ranked as the fourth-most traded cryptocurrency for the fifth consecutive month. $33.24 billion worth of EOS were traded during the last 30 days, comprising a 54.75% gain in trade activity. February comprised the strongest month of EOS trade since May 2018.
LTC ranked as the fifth-most-traded crypto asset for February, with $32.85 billion worth of litecoin changing hands. LTC saw a 93.58% month-over-month gain in volume, comprising the strongest month of trade since the first quarter of 2018.
Bitcoin Cash and Dash Ascend Volume Rankings During February
XRP was the sixth-most traded cryptocurrency of February for the second consecutive month, with $17.66 billion worth of XRP changing hands during the last 30 days. XRP trade activity increased by 30% month-over-month, however, failed to exceed the trade volume generated throughout December.
BCH ascended two positions to rank as the seventh most traded crypto asset of the past 30 days with $8.91 billion worth of trade. Despite posting a 40.54% gain monthly trade, February comprised the second-weakest month of trade in more than 12 months.
Dash re-entered the top ten after falling to 12th last month, ranking eighth with $6.22 billion worth of trade. February saw dash produce a 48.45% volume increase month-over-month, comprising the strongest month of trade since September.
NEO Reclaims Top Ten Ranking
NEO produced its strongest month in over 12 months, with $6.21 billion worth of NEO changing hands in the last 30 days. NEO comprised the ninth-most traded crypto asset during February, breaking into the top ten for the first time since November. NEO trade activity increased by 72.5% month-over-month.
QTUM produced its strongest month of trade since the first quarter of 2018, generating $6 billion worth of trade in the last 30 days. Monthly QTUM trade increased 22% when compared with January ranking it as the 10th-most traded cryptocurrency during February.
CKUSD comprised the 11th-most traded crypto asset during February with $5.87 billion worth of trade. February saw monthly CKUSD trade activity gain 38%, comprising the strongest month of trade since Q1 2018.
ETC rose two positions to rank as the 12th-most traded cryptocurrency with $5.75 billion worth of trade in the last 30 days. February posted a 60% gain in monthly ETC volume, comprising the strongest month of trade since August.
TRX Posts Significant Reduction in Monthly Trade
Despite falling from the top ten, ZEC produced its strongest 30 days of trade since Q1 2018 for the second consecutive month, with $5.22 billion worth of ZEC changing hands. February saw ZEC volume increase by 4.4%, ranking as the 13th-most traded cryptocurrency.
TRX comprised the only crypto asset of the top 15 to post a reduction in trade volume during February. $5.08 billion worth of TRX was traded during the last 30 days, ranking as the 14th most trade crypto asset.
XLM posted its strongest month since the first quarter of last year, with $3.99 billion worth of XLM changing hands. XLM comprised the 15th-most traded cryptocurrency during February, with volume increasing 23%.
BTT Ranks Among Top 20
BTT comprised the 16th-most traded crypto asset during February, with $3.86 billion worth of BTT having been traded.
BNB made its second appearance among the top 20 in one year, ranking 17th with $2.84 billion in trade over the last 30 days
BSV ascended one rank to comprise the 18th-most traded cryptocurrency during February, with $2.70 billion worth of trade. BSV trade activity increased 34.33% month-over-month.
PAX saw a nearly 10% decline in monthly trade activity, slipping one position to rank as the 19th-most traded crypto asset with $2.01 billion in trade.
TUSD ranked as the 20th-most traded cryptocurrency for the second consecutive month with $1.87 worth trade, a nearly 17% increase in trade volume.
Do you expect volume to continue to increase heading into the second quarter of 2019? Share your thoughts in the comments section below!
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