The following cryptocurrencies (FTX Token, Solana, TRON) are reaching higher-than-usual volumes.
A short overview of the current market situation: Cryptocurrency markets are down — Bitcoin drawing back 8% to $17,031.
Why trading volume matters?
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down today, some cryptocurrencies are currently at high volumes. Here is an update.
A grim day for FTX Token, going down by 32.2% FTX Token down to $3.68 today, continues bearish run
While on a 9 day downtrend, dropping a total of 85.89%, more of the same today: struggling to find upward momentum, FTX has shed $1.75 to currently trade at $3.68 as it ranges between $3.68 and $6.19 so far today.
FTX Token is now trading 82.74% below its 3-month high of $65.36. FTX Token is currently trading with a market cap of 489.77 million with an average daily volume of 82.24 million.
At $15.29, SOL is down to its lowest value in 1 year Bearish run continues, SOL down to $15.29 (-36.31%)
Solana has been losing ground for 4 days, shedding a total of 58.55% of its value. similar trend today: SOL is sharply lower after losing $8.71, declining as low as $15.29.
Solana is trading 90.32% lower compared to the $248.47 high it reached over the past year. Solana has a market cap of 5.53 billion with an average daily volume of 152 million.
Bearish TRON mostly flat today, trading at $0.058 After four days of going down, TRON is stable today, trading around $0.058
A 5 day downtrend has resulted in the asset losing $0.005. today is looking a bit better: after ending today at $0.059, today TRON went up to $0.064 before paring back gains and settling around $0.058.
11 months ago TRON reached a significant high of $0.124 but has consequently lost 52.58% since then. TRON is currently trading with a market cap of 5.39 billion with an average daily volume of 25.23 million.
— Average trading volume refers to a 21-day rolling average.