Traders are flocking around Dogecoin, Chainlink USD, Ripple and others; check out these cryptocurrency that are displaying higher than typical trading volumes.
Here's the most recent update: The leading indices are falling — Bitcoin slipping 3.54% and closing at $29,300.
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 cryptocurrency are currently at high volumes. Here is an update.
DOGE has managed to gain 32.15% so far this year despite trading at lows around $0.053 previously. DOGE has a market cap of 12.31 billion with an average daily volume of 996.85 million.
Chainlink hit a significant low of $5.47 around 3 months ago, but has since recovered 56.47%. Trending positively for about a month.
This year has been a bright one for XRP after trading as low as $0.307 and going on to appreciate by 52.9% year to date. On an upward trend for about a month now.
— Average trading volume refers to a 21-day rolling average.