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What does a week look like in the world of bitcoin?
Just how many transactions did crypto traders make over all 80 exchange providers? We analyze the daily trade value of top digital coins for the week of January 10, 2018, reported by CoinMarketCap, which tracks the cryptocurrency market.
In just one week, the total volume of cryptocurrency exchanged for bitcoin from January 10, 2018, to January 16, 2018, reached US$64.25 billion.
The total volume of bitcoin exchanged for other currencies — both crypto and fiat — was US$40.92 billion.
Total BTC to fiat: US$32.41 billion
Total BTC to crypto: US$8.52 billion
The net exchange volume for bitcoin — exchanges into bitcoin minus exchanges from bitcoin — was US$23.32 billion.
Whereas the total bitcoin exchange volume — both exchanges into bitcoin and exchanges from bitcoin — was US$105.17 billion.
Top 5 cryptocurrencies exchanged for bitcoin
Ethereum (ETH) was the most popular cryptocurrency exchanged into bitcoin (BTC) for the week, with a total US$12.34 billion in transactions. Ripple (XRP) came in at second place, with US$5.04 billion swapped for BTC, followed by TRON (TRX) at US$4.07 billion.
| Cryptocurrency | Volume over 7 days (USD) |
|---|---|
| Ethereum (ETH) | US$12,339,359,070 |
| Ripple (XRP) | US$5,040,155,280 |
| TRON (TRX) | US$4,071,199,720 |
| BitConnect (BCC) | US$3,124,710,470 |
| Bitcoin Cash (BCH) | US$2,359,501,150 |
Source: finder.com, CoinMarketCap
Top 5 fiat currencies exchanged for bitcoin
The US dollar was the top currency traded for bitcoin last week, representing US$19.68 billion. That’s nearly four times more than the Japanese yet, next in line at US$5.98 billion, and the South Korean won at US$3.12 billion.
| Currency | Volume over 7 days (USD) |
|---|---|
| US dollar | US$19,677,078,660 |
| Japanese yen | US$5,977,180,050 |
| South Korean won | US$3,122,810,220 |
| Euro | US$1,952,708,860 |
| Singapore dollar | US$261,433,700 |
Source: finder.com, CoinMarketCap
Total volume of exchanges into bitcoin
Wednesday, January 10, 2018, saw the highest volume of currency exchanged into bitcoin: US$11.28 billion. The day with the lowest volume was Monday, January 15, 2018, at US$7.05 billion — some US$4 billion (38%) less than Wednesday’s peak.
| Date | Total volume for each day (USD) |
|---|---|
| January 10 | US$11,283,479,890 |
| January 11 | US$10,778,899,500 |
| January 12 | US$10,130,052,100 |
| January 13 | US$8,162,019,800 |
| January 14 | US$8,826,837,790 |
| January 15 | US$7,050,905,110 |
| January 16 | US$8,013,942,150 |
Source: finder.com, CoinMarketCap
Top 5 bitcoin exchange providers
Binance was the most popular exchange out of those CoinMarketCap monitors, taking in US$24.09 billion in transactions. OKX follows with US$11.17 billion traded for bitcoin last week, with Bittrex in third at US$10.66 billion.
| Exchange provider | Volume over 7 days (USD) |
|---|---|
| Binance | US$24,089,489,930 |
| OKX | US$11,167,279,670 |
| Bittrex | US$10,661,019,360 |
| BitMEX | US$8,113,762,000 |
| Bitfinex | US$7,184,289,130 |
Source: finder.com, CoinMarketCap
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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