Which coins are the most traded today?

By Bfab | Good vibes | 9 Feb 2022

Most of the traders focus on the price only and forget to look at the volume.

Why is it so important to look at the volume?

Because the volume tells you if the growth you are seeing will last or not. If a coin grows without the subsequent volume, it can suddenly drop only because a whale has decided to take profit by selling a bag of his coins. If the volumes are significant, the impact of the profit taking will be minor.

How to look at the volumes?

It is quite easy. You can just go to coinmarketcap.com, select the top 100 coins, and rank according to volume.

What are the highest volumes in the last 24 hours?

Apart from stablecoins, the top 10 is as follows (from highest to lowest volumes): BTC, ETH, BCH, XRP, SHIB, SOL, BNB, GALA, LUNA, MATIC.

Does it mean you have to buy some of these coins?

Unfortunately, it is not as simple as that, but it gives you some guidelines:

BTC and ETH are the kings. Buying them gives you stability.
BCH and XRP are crypto dinosaurs. If you are nostalgic, you can buy them...
SHIB pumped so much already that it is a risky bet. Not my cup of tea, maybe yours?
SOL, BNB, LUNA and MATIC are all promising and deserve to be in your portfolio... DYOR
GALA is a Metaverse rising star, still low in market cap, but has pumped so much that it's risky

A recommandation could be to have at least a bit of BTC, ETH, SOL, BNB, LUNA and MATIC in order to benefit from these high trading volumes which will sustain the price of these coins. However, as usual, it is not a financial advice and you'd better DYOR before investing your own money.

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