Revolut changes up its crypto stats as users continue to flock in droves

By Aisling Finn on Friday 23 April 2021

Digital BankingSavings and Investment

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.

Revolut changes up its crypto stats as users continue to flock in droves
Image source: Revolut

Digital banking service Revolut continues to bank on crypto as it releases new stats to help its users better understand their trading.

Revolut has added stats on market cap, circulating supply, max supply, 24-hour trading volume and the ‘popularity’ of the coins in the Revolut app all in the same place.

By adding the popularity of a coin on Revolut, users will be able to see how popular an asset is among fellow Revolut traders

In a blog post, Revolut wrote: “Today, we added some additional stats about different crypto tokens to help you better understand each of the projects that we currently support.”

The fintech, which is well on its way to becoming a financial ‘super app’, added the new stats to help its users become more conscious of the cryptocurrencies offered on Revolut.

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.

The moves comes after its users have revelled in crypto trading over the lockdown, with an AltFi investigation found that Revolut could potentially be sitting on a pile of crypto worth around $1bn.

Revolut also recently added 11 new cryptocurrencies to its trading platform, including Cardano, Uniswap, Synthetix, Yearn Finance, Filecoin, Orchid, and The Graph to name but a few. 

Earlier this year, Revolut issued a warning to its customers about Ripple’s cryptocurrency XRP after several exchanges began delisting the electronic currency.

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. 

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