Top 10 most traded cryptocurrencies

With prices that skyrocket and plummet within a matter of minutes, it’s easy to get wrapped up in the rapid rise and fall of cryptocurrency prices.

But when it comes to putting a stake in crypto, you should only invest what you’re willing to lose because the value of cryptocurrencies aren’t based on hard assets like cash flow or underlying business performance. If you’re on the fence about investing in crypto, it can sometimes be helpful to take a look at which coins investors are trading to get a feel for the broader market sentiment.

10 most traded cryptocurrencies

Here are the 10 most traded cryptocurrencies in the past 30 days with a market cap of at least $1 billion. Data as of Oct. 25, 2024, from CoinMarketCap.com.

Bitcoin $1.2 trillion Ethereum $595 billion USDC $255 billion First Digital USD $151 billion Solana $134 billion BNB $46 billion Dogecoin $39 billion XRP $30 billion Sui $17 billion 1. Tether (USDT) Tether is a stable coin, which makes it different from other types of cryptocurrencies. Tether’s value is backed by one-for-one cash reserves in the U.S. dollar, making it a bit more reliable than other types of coins. Crypto traders sometimes buy Tether when selling one crypto and deciding which one to buy next rather than converting their crypto earnings directly back into dollars. Price: $0.9981 Market cap: $120 billion 2. Bitcoin (BTC) Bitcoin is the original cryptocurrency that launched in 2009. In October of 2009, Bitcoin traded at about $0.00099 per bitcoin. Fast forward to March 2024 when Bitcoin hit an all-time high above $73,000. Price: $66,957 Market cap: $1.32 trillion 3. Ethereum (ETH) Ethereum shares its name with the crypto platform the coins are traded on. It’s probably the second-most popular coin in the crypto space. Ethereum allows you to use ether (the currency) to create smart contracts. Price: $2,481 Market cap: $299 billion 4. USDC (USDC) USDC, like Tether, is also a stablecoin pegged to the U.S. dollar. The coin made its first showing on the Ethereum blockchain in 2018. Each coin is backed by $1 U.S. dollar in cash or cash equivalents like short-term Treasury bonds. Price: $0.9999 Market cap: $35 billion 5. First Digital USD (FDUSD) First Digital USD is also a stable coin tied to the U.S. dollar. The coin was introduced in 2023 on the Ethereum and BNB blockchains. Like the other stable coins on this list, First Digital USD aims to be a digital alternative to the U.S. dollar. Price: $ 0.998 Market cap: $2.62 billion 6. Solana (SOL) Solana launched in 2020 and is best known for coins called Sol, smart contracts, decentralized finance apps (dApps) and non-fungible tokens. Price: $167 Market cap: $78.9 billion 7. BNB (BNB) BNB is the cryptocurrency issued by one of the largest crypto exchanges, Binance. The original intent behind BNB was to create a token that would pay for discounted trades.  Price: $585 Market cap: $85.4 billion 8. Dogecoin (DOGE) Dogecoin originally started out as a joke, but has gained significant traction in the crypto world and is one of the most popular cryptocurrencies. Dogecoin is often known for tipping content creators, its speculative nature and price volatility. Price: $0.1361 Market cap: $19.9 billion 9. XRP (XRP) XRP is the cryptocurrency of U.S.-based company Ripple Labs and was originally designed to improve the efficiency of business-related transactions, specifically within banking. Price: $0.5168 Market cap: $29.3 billion 10. Sui (SUI) Sui is the native cryptocurrency of the Sui blockchain and was created by former Meta engineers for fast transactions with stable fees. It’s also built to handle a large number of transactions at one time, which makes it scalable. Price: $1.85 Market cap: $5.1 billion Bottom line Cryptocurrencies can be a risky bet. A general rule of thumb is to only invest what you feel comfortable losing and have your finances in order before buying and trading coins. If you’re looking for a cheaper, more accessible option that gives you exposure to crypto with higher regulatory parameters, consider a spot Bitcoin or Ethereum ETF. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.