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June 01, 2023The following cryptocurrency (Ripple & Litecoin) are reaching higher-than-usual volumes.
What is happening with the market now? The leading indices are falling — Bitcoin trades at $27,100 after losing 0.5%.
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.
The past 3 months have been positive for XRP as it added 36.69% compared to its 3-month low of $0.307. XRP is currently trading with a market cap of 26.49 billion with an average daily volume of 955.28 million.
LTC is up 109.12% from the significant low of $43.3 it hit 11 months ago. On a 9 day uptrend,
— Average trading volume refers to a 21-day rolling average.
