What's Trading? 1/9/17
It's always a good rule of thumb to check the volume of what you are trading. Without liquidity, you can see the high prices and large % gains on charts, but may not be able to cash out at that price!
Here are the top digital currencies listed on coinmarketcap.com based on 24 hour volume. Only 7 made the list above $1 Million in volume.
Today's Performers!
Bitcoin is currently $892 with a 24 hour volume of $143.5 Million.
Ethereum leads both the 24 hour chart at +4.88% and the 7 day chart at +27.73%.
I'm new in this world, you blog seems very helpful :D
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Thanks! Welcome to Steemit! Do you understand what I mean when we are talking about volume and why it's important? Glad I could be of help :) I try to post these daily, maybe not on the weekends 100% of the time.
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If I understood correctly volume is how much all the cons are worth altogether? Of course I will not invest a cent until I figured out all it need to be figured out :D
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The marketcap is the total number of coins in circulation multiplied by the price of each coin. So Bitcoin's marketcap is 16,093,600 x $908.44 = $14,620,118,265.
The volume for Bitcoin is $119,630,000 for the last 24 hours. So there's tons of liquidity there. If you want to sell your Bitcoin, you will probably have tons of buyers buying at that price $908.44.
The volume is important cuz you can look at a coin or token and buy low and then go to sell high for profit. However, if there is no liquidity, you may not be able to sell it at that top price because there are not enough people buying at that top listed price.
Look at all the ones that have higher prices than Bitcoin: 23 skidoo, satoshi card, bitgold, bitbtc. All higher prices than Bitcoin currently, all low volume. The chances of finding buyers to sell at those prices are much slimmer.
Hope that helped explain it some :)
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Thank you very much!
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:)
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Thanks!
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