While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tethers volume surpassed that of Bitcoins for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
Emphasis on
murky.
95% of reported trading volume is fake. Tether markets are more likely to include fake volume because it's often listed on unregulated exchanges with lax KYC standards.