In the field of cryptocurrency trading, the term “volume” refers to the number of cryptocurrency tokens traded within a specific duration, for instance, a period of 24 hours or more.
A cryptocurrency’s volume gives coin traders the ability of determining the direction and movement of the coin they would want to trade alongside its future price and possible level of demand.
Basically, Volume is what’s responsible for making exchanges earn money. Volumes allow for transaction fees to be collected through trades on platforms from whence these are transacted. Exchange volume is pertinent to investments made by crytocurrency traders for exchanges are best at purchasing, selling, and trading digital tokens.