How to read volume on exchanges

Bitcoin Questions and AnswersCategory: General questionsHow to read volume on exchanges

James W Valenta asked 10 months ago

What amount increments is the volume on exchange sites. I mean when I get price on current coins it always gives a volume ie 60.2. Is this sixty thousand people or 60?

1 Answers
Steven Hay answered 10 months ago

Hi James,
 
Well, I’m not sure which site you’re using or which coin you’re checking, so it’s hard to answer. However, as there’s no way of measuring the people aspect (all 60,000 could be done by any number of people from 1 – 60,000) it can only mean coin volume – or perhaps fiat volume, depending on how the site is measuring.
 
I suggest looking up your coin of interest in the CoinMarketCap.com “search¬† currencies” box:
 
https://coinmarketcap.com/https://99bitcoins.com/question/how-to-read-volume-on-exchanges/
 
You may then compare the reported volume on CMC to your site, which should help you figure out how your site is reporting it. CMC is probably the most accurate site for this sort of thing, they’ve been around a long time and remove sites with false volume regularly.

James W Valenta replied 10 months ago

Example: ZAP uses bitcoin 0.00006178 BTC. Vol= $646,313 USD on CMC, on croptopedia its 25.83? Dont understand?

James W. Valenta replied 10 months ago

https://coinmarketcap.com
Ok thanks, was using crytopia

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