September saw all but three of the top twenty cryptocurrency markets post an increase in monthly trade volume. XRP pairings saw the strongest month-over-month volume gain, with 30-day volume tripling when compared with August.
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BTC Stagnates, USDT and ETH Post Strongest Volume Since Q2
Despite relative stagnancy in monthly BTC trade volume, an increase in altcoin trade during September appears to have corresponded with an increase in USDT and ETH trading activity.
September saw approximately $124.3 billion USD worth of trade take place across all BTC pairings – comprising a meager 0.24% increase in trading activity over August’s $124 billion, and marking September as the second weakest month of trade for BTC pairings this year.
Trade volume for USDT pairings increased by almost 4.5% percent month-over-month – with $86.5 billion worth of USDT changing hands during September.
ETH pairings broke a multi-month trend of declining trade volume, with September’s $53.8 billion comprising a 17.6% increase over August’s $45.75 billion.