Binance quote volume

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    Volume is arguably the most important metric in cryptocurrency exchange. As such, the volume of a token refers to the amount of that particular coin that has changed hands in the past 24 hours.

    If more than a billion dollar worth of BNB has been traded in a day, it can mean that different currency sectors must have been involved.

    Hence, if the price of BNB goes up, it is a pointer to the large number of traders exchanging distinct pairs and segments of the BNB. Consequentially, volume is directly proportional to the price of the coin. The quoted trade volume infers movement and direction of a coin during its trading hours.

    Volume can be tracked and quoted on the Binance app every other minute. It aids in revealing whether the coin’s fluctuating or steady movement ia normal or contrary. For example, a coin bearing a high quote volume may not necessarily attract investors, especially if filled with rapid and irregular movements.

    Thus, direction and movement are essential in underpinning the status of the quote volume. Quote volume also impacts on the prior two to some extent.

    Answered on August 8, 2019.
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