Enormous figures of the total Buy and Sell of all cryptocurrencies will really blow our minds knowing in 24 hours, the market now is already generating $81.74 Billion total trading volume from all the listed trading sites all over the globe. Bitcoin Dominance is of course 56.7%. It means 44% comprises of all the altcoins listed here.
This is a screenshot from coinmarketcap and we are all glad to see all green figures. Reading this blog will also let you get reminded of their values at the time of writing (May 19, 2019).
As we can see below, we will check which exchangers are contributing to the trading volume of the entire cryptocurrencies thru these charts and rankings.
We will be able to see that DOB Exchange sits on top with a real steady upward graph.
The popular exchanger Binance sits on the second place but you'll be confident to trade in this site because it has 473 Markets and well as Huobi Global with 438.
If you were able to check the Volume column for 24-hour period, you will see each of these exchangers contribution to the $81.74 Billion totality of all the transactions and DOB Exchange contributed $2.74 Billion and Binance generated $2.22 Billion. Upon knowing these bewildering figures, you might then ask...
What are people Buying and Selling from these exchangers then?
Just see the screenshot and get amazed.
We'll check which coin really surged much today:
Imagine if you could have bought the coin @ one cent of a dollar. You'll be happy by now in 24 hours you were able to make your money a lot. The very basics of what trading is all about.
Where to exchange this coin if ever we were able to get so lucky we bought it a month ago out of our curiosity?
Definitely still shown on coinmarketcap where to sell it. HitBTC is a trusted exchanger so it will fill your orders in a snap of a finger when you SELL your coins.
But what if the $81.74 Billion is just a fake volume? You just have to check another platform to see the current trading volume here on CoinGecko:
As you can see, there is a huge difference from coinmarketcap to what CoinGecko is showing us. It is only stated here $63.5 Billion. A discrepancy of $18 Billion. If this is the case, coinGecko launced an announcement to avoid generating fake exchange volume. You can see their announcement here: Introducing CoinGecko Trust-Score!
And since CoinGecko already considered publish0x to share their announcement to everyone, please take a look at the blog that they have published here on our beloved platform: CoinGecko Introduces “Trust Score” to Combat Fake Exchange Volume Data
If we will look at the exchangers that generated that $63.5 Billion in 24 hour-period, we'll be amazed with the differences from two platforms.
Well definitely get surprised with the difference of the values shown and the listing as well.
The top of the list is Binance with $2.1 Billion trading volume, followed by Coinbase Pro and Bitfinex with a huge number of difference from the top exchanger. If you were able to click the link of CoinGecko then you'll see more listing.
Please read the coingecko announcement as they are really diligent to combat fake exchange volumes generated by the trading sites across the globe.
We should always be reminded that the Bull-market is directly proportional with the total volume of the trades. It is also an indicator what exchanger we can Buy or Sell our other coins aside from Bitcoin.
I am not a financial advisor and this is just my take to what I have experienced before and just sharing it to all my readers. I am not an expert and do not treat me as such but I am always willing to help out those who seek guidance with the best that I can.
Thank you so much for dropping by and grateful for everyone's support you are all giving me that's why I still continue to share this to my fellow traders, crypto-enthusiasts and the newbies which will eventually grow further in the next few months as mass adoption of cryptocurrencies are slowly gaining momentum too.
Check also my recent post here which is also guiding us the basic things to know when we start trading.