“Gold breaks above $4,150” made the trending list across the web (No. 9), and $PAXG , which is affected by gold, was mentioned as well.
For the buzz to carry over to the coin’s price, it has to pass three checkpoints:
① Discussion: Will the community join in?
② Trading: Will trading volume pick up?
③ Staying power: Can the momentum last for 24 hours?
$PAXG is currently at 4160.52, up 1.27% in 24h. It only counts as a real correlation if it passes all three checkpoints. If it only makes it through the first, the buzz will probably blow over quickly.
Compare the buzz around a topic with trading volume. Discussion without trading activity can easily be a one-day flash in the pan.
For the buzz to carry over to the coin’s price, it has to pass three checkpoints:
① Discussion: Will the community join in?
② Trading: Will trading volume pick up?
③ Staying power: Can the momentum last for 24 hours?
$PAXG is currently at 4160.52, up 1.27% in 24h. It only counts as a real correlation if it passes all three checkpoints. If it only makes it through the first, the buzz will probably blow over quickly.
Compare the buzz around a topic with trading volume. Discussion without trading activity can easily be a one-day flash in the pan.