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April 07, 2023
The following cryptocurrency (Dogecoin, Tezos USD, Ethereum) are reaching higher-than-usual volumes.
A quick recap: The leading indices are dropping — Bitcoin trades at $27,940 after losing 0.36%.
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 gained 32.33% since its lowest print of $0.053 earlier this year. In the last 5 days, DOGE has lost a total of 14% of its value.
While trading sideways for 12 days, Today's session suggests a further slowdown — Tezos is range-bound between $1.09 and $1.14 today after shedding $0.035 and closing at $1.14 today.
Ether has managed to gain 56.4% so far this year despite trading at lows around $993.77 previously. While ETH is on a 12 day uptrend
— Average trading volume refers to a 21-day rolling average.
