By Aisling Finn on Friday 23 April 2021
Users will now see the market cap, circulating supply, max supply, 24-hour trading volume and the popularity of the coins in the Revolut app.
Digital banking service Revolut continues to bank on crypto as it releases new stats to help its users better understand their trading.
By adding stats like market cap and 24-hour volume, users will be able to see just how much trading activity is happening around the coins they are interested in.
Max supply will also be a useful insight for traders as cryptocurrencies, particularly the most popular coin, Bitcoin, are nearing their max supply volumes meaning we will soon run out of Bitcoin to trade.
Currently, Bitcoin’s market cap is $1tr, while other coins like Ethereum and ‘meme coin’ Dogecoin sit at around $254bn and $31bn respectively.
For context, Apple has a market cap of roughly $2.2tr, Google $1.5tr and Facebook comes in behind Bitcoin with a market cap of just under $843bn.
Despite warning its customers away from XRP, Revolut’s users can still trade the embattled coin as long as its partner exchange continues to allow it to do so.
Unlike other crypto wallets, Revolut’s users can’t actually remove their purchased coins from the Revolut app, rather they are held “in cold storage with some of the best custodians in the crypto game.”
Both stock and crypto trading has boomed over the past 12 months, even more so since the beginning of this year with the rise of ‘Meme Stocks’ and the Reddit vs Wall Street saga, which prompted the likes of Revolut to halt trading of certain stocks thanks to unexpected volatility.