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May 09, 2023Traders are flocking around Litecoin and Bitcoin Cash and others; check out these cryptocurrency that are displaying higher than typical trading volumes.
A quick recap: The leading indices are dropping — Bitcoin slipping 0.29% and closing at $27,600.
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.
Litecoin is now trading 23.73% below the significant high of $102.04 it set around 2 months ago. While Litecoin in the midst of an 11 day downtrend,
Bitcoin Cash is now trading 51.66% below the significant high of $230.13 it set around 11 months ago.
— Average trading volume refers to a 21-day rolling average.
