$XAU
Binance's XAUUSDT contract trading volume surged to around 150 million USDT, and open interest piled up to a whopping 6.06913e+08 USDT, yet the price remained stubbornly stuck at 4196.32 USDT, barely moving, with a gain of just 0.01%.
Now look back at the COMEX gold quote of 4216.3 shared by Cool X Media Group, along with its 1.30% rebound over five days. By comparison, Binance has plenty of trading volume and open interest, but they simply aren't moving the market. This whole line of reasoning doesn't prove which way the market is headed at all. Anyone trying to infer direction from trading volume alone really needs to wake up.
$XAU
Binance's XAUUSDT contract trading volume surged to around 150 million USDT, and open interest piled up to a whopping 6.06913e+08 USDT, yet the price remained stubbornly stuck at 4196.32 USDT, barely moving, with a gain of just 0.01%.
Now look back at the COMEX gold quote of 4216.3 shared by Cool X Media Group, along with its 1.30% rebound over five days. By comparison, Binance has plenty of trading volume and open interest, but they simply aren't moving the market. This whole line of reasoning doesn't prove which way the market is headed at all. Anyone trying to infer direction from trading volume alone really needs to wake up.
$XAU