What Does 24h Trading Volume of USDT Mean? (What Does a Decrease in 24-hour Trading Volume Indicate?)
What does the 24h trading volume of USDT mean? According to a report by CoinDes
What does the 24h trading volume of USDT mean? According to a report by CoinDesk, the 24-hour trading volume of USDT (equivalent to 1 ETH) on the Ethereum network is four times the value of nearly 600 million euros. It is said that the value of this cryptocurrency within a day is 500 million US dollars, while its current market value is only 25 million US dollars. On January 14th, the price of Bitcoin quickly rebounded and reached a new all-time high after falling to around 23,000 US dollars. Despite the controversies, Bitcoin has remained above 39,000 US dollars and has not fallen back above 32,000 US dollars as of the time of writing.
What Does the Decrease in 24-hour Trading Volume Indicate?
According to Coindesk’s analysis article, a decrease in the 24-hour trading volume does not necessarily indicate anything. Technically, when the upward trend of Bitcoin and Ethereum prices begins to flatten, it will be used as a medium of exchange or a store of value. However, this growth may be temporary because traders typically view volatility as the basis of their profitability. If investors are still dissatisfied with the cryptocurrency market’s sentiment in the past few days, the market will quickly decline and start rebounding.
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