{"id":431555,"date":"2024-07-08T11:35:45","date_gmt":"2024-07-08T10:35:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=431555"},"modified":"2026-04-26T15:59:35","modified_gmt":"2026-04-26T14:59:35","slug":"tether-24-hour-trading-volume-surpasses-bitcoin-solana-usdc-and-ethereum-combined","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tether-24-hour-trading-volume-surpasses-bitcoin-solana-usdc-and-ethereum-combined\/","title":{"rendered":"Tether 24 hour trading volume surpasses Bitcoin, Solana, USDC and Ethereum combined"},"content":{"rendered":"<p>Tether USDT's 24-hour trading <a href=\"https:\/\/cryptoslate.com\/highest-volume\/\">volume<\/a> exceeds the combined total of the following five digital assets, including Bitcoin and Ethereum.<\/p>\n<p>Reflecting on Tether's dominance in trading volume provides insight into market liquidity. As <em>CryptoSlate<\/em> data indicates, Tether (<a href=\"\/coins\/tether\/\">USDT<\/a>) maintains a higher volume than Bitcoin (<a href=\"\/coins\/bitcoin\/\">BTC<\/a>), Ethereum (<a href=\"\/coins\/ethereum\/\">ETH<\/a>), USD Coin (<a href=\"\/coins\/usd-coin\/\">USDC<\/a>), Solana (<a href=\"\/coins\/solana\/\">SOL<\/a>), and First Digital USD (<a href=\"\/coins\/first-digital-usd\/\">FDUSD<\/a>), pointing to its significant presence in the market. Specifically, Tether recorded a 24-hour volume of over $55 billion, far surpassing Bitcoin's $28 billion and Ethereum's $15 billion.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-431561\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.07.28.png\" alt=\"\" width=\"1726\" height=\"604\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.07.28.png 1726w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.07.28-300x105.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.07.28-1024x358.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.07.28-768x269.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.07.28-1536x538.png 1536w\" sizes=\"(max-width: 1726px) 100vw, 1726px\" \/>With a <a href=\"https:\/\/cryptoslate.com\/exclusive-inside-tethers-battle-with-fud-and-financial-resilience-reveals-ceo-paolo-ardoino\/\">market cap of over $112 billion<\/a>, the trading patterns also show that Tether's volume has consistently been robust throughout 2024, peaking at $130 billion on March 16. Tether's stability and frequent use in trading pairs make it a preferred choice for traders seeking to hedge against volatility.<\/p>\n<p>These <a href=\"https:\/\/www.statista.com\/statistics\/1272865\/tether-trade-volume\/\">volume<\/a> statistics reflect broader market trends as Tether provides liquidity and stability. Tether regularly achieves daily trading volumes exceeding $25 billion, reinforcing its status as a key liquidity provider in the crypto ecosystem.<\/p>\n<figure id=\"attachment_431562\" aria-describedby=\"caption-attachment-431562\" style=\"width: 1454px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-431562 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.22.54.png\" alt=\"Tether daily trade volume (Statista)\" width=\"1454\" height=\"908\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.22.54.png 1454w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.22.54-300x187.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.22.54-1024x639.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-08-at-10.22.54-768x480.png 768w\" sizes=\"(max-width: 1454px) 100vw, 1454px\" \/><figcaption id=\"caption-attachment-431562\" class=\"wp-caption-text\">Tether daily trade volume (Statista)<\/figcaption><\/figure>\n<p>Per Glassnode data, throughout 2024, Bitcoin and Ethereum have seen around $4 &#8211; $8 billion per day, far below Tether's volumes.<\/p>\n<figure id=\"attachment_431563\" aria-describedby=\"caption-attachment-431563\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-431563 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/glassnode-studio_spot-volume-1.png\" alt=\"Bitcoin and Ethereum volume (Glassnode)\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/glassnode-studio_spot-volume-1.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/glassnode-studio_spot-volume-1-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/glassnode-studio_spot-volume-1-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/glassnode-studio_spot-volume-1-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/glassnode-studio_spot-volume-1-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-431563\" class=\"wp-caption-text\">Bitcoin and Ethereum volume (Glassnode)<\/figcaption><\/figure>\n<p>The high trading volume of Tether compared to other major digital assets illustrates its integral role in daily trading activities and the broader market strategy that traders and institutions employ. This continuous high-volume trading signifies trust and reliance on Tether's stability and accessibility, making it indispensable for efficient market functioning.<\/p>\n<p>While Tether has historically faced recounted challenges regarding its <a href=\"https:\/\/cryptoslate.com\/tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation\/\">reserves<\/a> and use in <a href=\"https:\/\/cryptoslate.com\/tether-commits-to-freezing-addresses-linked-to-sanctions-as-scrutiny-over-usdt-misuse-grows\/\">illicit activities<\/a>, these volumes showcase its resilience in combating these claims. Tether's CEO Paolo Ardoino recently told CryptoSlate that Tether is currently over-collateralized,\u00a0with the firm's profits being put back into reserves to strengthen its stability.<\/p>\n<p>Further, Ardoino commented how Senator Warren's discouragement of accounting firms from engaging with Tether had hindered its ability to use one of the US's top four accountants for audits. The CEO claimed that Tether is continuously seeking to hire one of the leading companies but has almost given up on it happening any time soon, regardless of their efforts to do so.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether USDT&#8217;s 24-hour trading volume exceeds the combined total of the following five digital assets, including Bitcoin and Ethereum. Reflecting on Tether&#8217;s dominance in trading volume provides insight into market liquidity. As CryptoSlate data indicates, Tether (USDT) maintains a higher volume than Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Solana (SOL), and First Digital USD [&hellip;]<\/p>\n","protected":false},"author":1264,"featured_media":431559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77968,32631],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether 24 hour trading volume surpasses Bitcoin, Solana, USDC and Ethereum combined<\/title>\n<meta name=\"description\" content=\"Reflecting on Tether&#039;s dominance in trading volume provides insight into market liquidity and the role of stablecoins in digital asset transactions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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