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April 05, 2023Traders are flocking around Dogecoin, Ethereum, Binance Coin and others; check out these cryptocurrency that are displaying higher than typical trading volumes.
A quick recap: The leading indices are showing gains — Bitcoin up to $28,500, gaining 1.21%.
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 up today, some cryptocurrency have high volumes. Take a look.
Dogecoin is up to $0.097 (1.93%), adding to its four consecutive days of gains. Dogecoin has gained 38.96% since its lowest print of $0.053 earlier this year. DOGE has a market cap of 13.44 billion with an average daily volume of 779 million.
This year has been a bright one for ETH after trading as low as $993.77 and going on to appreciate by 55.56% year to date. Ethereum is on a 10 day bullish run gaining $153.45 (11.37%).
Binance Coin has managed to gain 27.33% so far this year despite trading at lows around $196.72 previously. While Binance Coin in the midst of a 19 day downtrend,
— Average trading volume refers to a 21-day rolling average.
