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June 08, 2023The following cryptocurrency (Binance Coin, Cardano, Ripple) are reaching higher-than-usual volumes.
Here's the most recent update: Markets are currently flat. Bitcoin trades sideways at $26,300.
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.
While trading was mostly flat today, some cryptocurrency are at high volumes. Check them out.
Over the past 7 months, BNB has retreated 26.9% from a noteworthy peak of $354.57. Pointing downwards for around a month. While on a month slump, falling a total of 23.51%,
Approximately a year ago, ADA reached a significant high of $0.633 but has struggled to hold onto its gains and declined 49.12% since then. Trending downwards for around a month. ADA is currently trading with a market cap of 11.25 billion with an average daily volume of 175.62 million.
Ripple is on a 4 day bullish run gaining $0.009 (2%). Heading in the same direction for now — currently trading at $0.519, Ripple remains range-bound between $0.517 and $0.522.
— Average trading volume refers to a 21-day rolling average.
