Bitcoin Cash is among the 6 cryptocurrencies that most move the market

According to the data recorded in the CoinMarketCap, the cryptocurrency represents 3% of the total volume of transactions

Source: News Bitcoin

A recent report published by Diar found that more than half the trading volume of more than 1,600 cryptocurrencies in this market was produced by just five digital currencies — BTC, XRP, ETH, BCH and LTC. The report cites data from CoinMarketCap registered on June 18, 2018.

Bitcoin (BTC) comprises about 33% of the transactions on the market, which corresponds to almost $12 billions recorded on the day of data capture. The ETH accounted for 12% of the total volume, followed by BCH with 3%, and XRP and LTC with 2% each. In addition, USDT pairs accounted for 17% of total volume of the cryptocurrency markets. The combined volume of all other altcoin markets listed in the Coinmarketcap constituted only 31% of the volume of trade.

The report states that “liquidity is almost non-existent in most tokens traded”, concluding that the price action of most altcoins is “fixed in the highs and lows of Bitcoin.”

Diar claims that one-third of all cryptocurrency market (542 tokens) generated less than US$1,000 in 24 hours in negotiations. The report also found that 49.3% of the altcoins (803 tokens) markets had produced less than US$10,000 in volume of negotiations, and that 67.3% (1,096 tokens) had less than US$100,000.

Only 15.3% of cryptocurrencies generated a trade volume of US$ 1 million or more, and only 6.3% of the markets produced US$5 million or more in trade volume in 24 hours.