The Bitcoin trading volume indicates how many Bitcoins are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It is also a good indicator of the general interest in the crypto market. Bitcoin Trade Volume — Analysis of Real Bitcoin Trade Volume from Bitwise. Oct 23, · Volume stands for the number of overall Bitcoins that have been traded in a given timeframe. Volume is used by traders to identify how significant a trend is; significant trends are usually accompanied by large trading volumes, while weak trends are accompanied by low volumes.
Volume bitcoin tradedBitcoin Trade Volume
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Latest Equities news. Bitcoin futures FAQ. Bitcoin options FAQ. Essentially, volume underscores how many people are buying and selling the coin. If the price of Bitcoin goes up and it shows a hefty volume, that tells us lots of people are making moves. Thus, it will likely keep going up. Volume is arguably the most important metric for a cryptocurrency , because of the amount of ways it can be broken down. From volume, you can infer the direction and movements of a coin. Volume can examined in minute detail.
You can track volume on CoinMarketCap by the last 24 hours, last week, or last 30 days. You can also examine which exchanges had what volume. As well, many exchanges are geographically-focused. Kraken, for instance, is largely a European exchange. Volume by exchange can reveal where the buyers or sellers of a coin are. CoinMarketCap does not, however, reflect exchanges with no fees. Generally, the biggest and most popular coins are traded the most.
If you sort by volume on CoinMarketCap, the top three coins are Bitcoin , Etherum , and Ripple , also the three largest market caps. No surprises there. Comparatively, if we sort by lowest 24 hour trading volume in the top , Dentacoin pops up.
That looks great on paper. But the low volume could make investors cautious. Comparing the 1 day volume to the 7 day volume is another way we can read trends.
On the other hand, you truly never know in crypto. But cryptocurrencies are already vastly more traded than conventional stocks.