$KERNEL is up more than 16%, but its trading volume isn’t nearly as eye-catching. For anyone picking coins from the gainers list, that contrast is more useful than the ranking.
As of 23:42 Beijing time on October 20, this Binance spot pair had traded about $1.37 million over the past 24 hours; $PEPE on the same platform had traded about $43.73 million. Both are up, but the actual trading volumes attracting buyers are worlds apart.
My take is that KERNEL’s gain is striking, but participation hasn’t yet justified calling it a full-blown breakout. Price gains tell you how far the price has moved; trading volume tells you how much trading took place along the way. These are different questions and shouldn’t be conflated.
So it’s better to understand this as a sharp rise in a pair with relatively low trading volume. Take note of the strength, but also consider the size of the market in which it occurred. Its position on the gainers list alone isn’t enough to make it a market leader.
As of 23:42 Beijing time on October 20, this Binance spot pair had traded about $1.37 million over the past 24 hours; $PEPE on the same platform had traded about $43.73 million. Both are up, but the actual trading volumes attracting buyers are worlds apart.
My take is that KERNEL’s gain is striking, but participation hasn’t yet justified calling it a full-blown breakout. Price gains tell you how far the price has moved; trading volume tells you how much trading took place along the way. These are different questions and shouldn’t be conflated.
So it’s better to understand this as a sharp rise in a pair with relatively low trading volume. Take note of the strength, but also consider the size of the market in which it occurred. Its position on the gainers list alone isn’t enough to make it a market leader.