Most traders, consumers and investors have focused mainly on three crypto assets in the last year.
These three assets are responsible for 90% of the total trading volume of the top ten cryptocurrencies.
Thousands of other crypto assets report almost no trading volume, which indicates that quality and liquidity are increasingly sought in the market.
Tether reported the largest percentage increase in trading volume, which could mean that investors increasingly view the US dollar as a safe haven in times of economic uncertainty.
Wilson Whittyam , an analyst at the company, said the following in a Twitter post:
The crypto trading volume in 2020 is only BTC, USDT and ETH. These three represent 90% of the real trade volume in the top 10, compared to 75% a year ago.
The increase in USDT’s trading volume indicates that people still believe in the dollar as a safe haven.
Whittyem stressed that crypto is ‘ dollarized ‘ sharply because of the world’s perception of the dollar as a safe haven.