GMO Coin Announces May Cryptocurrency Trading Popularity Ranking

1 year ago 57

Exchange ranking

On the 15th, GMO Coin, which operates a crypto asset trading business, announced the crypto asset (virtual currency) trading ranking for May 2023.

GMO Coin is an affiliate of GMO Financial Holdings, a company listed on the Tokyo Stock Exchange. GMO Financial is a holding company in charge of the financial sector of the GMO Internet Group, and in addition to the securities trading business, it is developing financial-related businesses such as FX (foreign exchange) trading business and virtual currency trading business.

Bitcoin (BTC) ranked 1st at 52.3% for “exchanges (spot trading)” where customers can buy and sell.Stable demand can be seen, such as exceeding the majority

XRP ranked second with 21.4%, followed by Ethereum (ETH) with 19.6%.

GMO Coin (Exchange Ranking)

Compared to the ranking of the previous month (April 2011), the increase in the share of XRP trading volume, whose price had been on an upward trend since mid-May, was conspicuous, reversing the ranking for the first time in two months.

In April of this year, Ethereum (ETH) implemented a major upgrade, Shapella, which will allow stakers and validators to withdraw their staking deposits and rewards over the next few years.

connection:Total Ethereum Supply Declining, What Is the Impact of the Shapella Upgrade on the Market?

Litecoin (LTC) ranked 4th with 1.9%, and Polkadot (DOT) ranked 5th with 0.6%. ing.

Sales office ranking

Bitcoin (BTC) also ranked first in the “sales place”, but its share was 39.2%, lower than the “exchange”.

GMO Coin (Sales Ranking)

Ethereum (ETH) accounted for nearly 30% at 27.6%, and it is worth noting that the stablecoin DAI ranked fourth at 8.2%. In April, DAI’s share was 4.7%.

In this regard, GMO Coin has indicated that the demand for Dai (DAI), a crypto-backed stablecoin designed to maintain 1DAI ≒ 1US dollar, has increased in response to the trend of yen depreciation. there is

Unlike many stablecoins such as Tether (USDT) and USD Coin (USDC), DAI belongs to a decentralized stablecoin that does not have a single issuer. In MakerDAO, a decentralized financial protocol on Ethereum, volunteer participants jointly manage an open source DAO (Decentralized Autonomous Organization), which is being developed and operated.

connection:CoinBest started DAI exchange trading for the first time in Japan | DAI with commentary

Since the cryptocurrency collateral for the reserve is locked in a smart contract, it has an advantage in terms of transparency over centrally managed stablecoins. On the other hand, about half of the collateral assets consist of USDC, which in the past has been affected by the USDC bank run caused by the failure of the US Silicon Valley Bank (SVB).

connection:MakerDAO May Refocus USDC as Reserves for DAI Stablecoin

Crypto asset (virtual currency) sales outlets can easily trade even for beginners who are not familiar with board trading, but the spread, which is the difference between the buying price and the selling price, tends to widen, and the transaction fee is higher than the “crypto asset exchange”. in the nature of