Cryptocurrency Q&A
How do you calculate bitcoin daily volume?
How do you calculate bitcoin daily volume?
Arianna
Tue Jul 09 2024
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7 answers
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When it comes to calculating Bitcoin daily volume, the process can be somewhat intricate yet crucial for understanding the market's liquidity and momentum. Could you elaborate on the key steps involved in this calculation? Do you primarily rely on data from exchanges, or do you consider other factors like off-chain transactions? How do you ensure the accuracy of these figures, given the volatile nature of the cryptocurrency market? I'm also curious about how you reconcile differences in reported volumes across various platforms. Your insights into this topic would be invaluable for those looking to navigate the Bitcoin market effectively.
7 answers
noah_wright_author
Thu Jul 11 2024
However, another popular platform, CoinGecko, provides a lower figure of $27 billion.
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CryptoChieftain
Thu Jul 11 2024
The calculation of bitcoin's daily volume remains a contentious topic within the cryptocurrency industry, even amongst established research firms.
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BlockchainVisionary
Thu Jul 11 2024
Meanwhile, Nomics, a financial data analytics company, estimates the daily volume to be significantly higher at $57 billion.
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CryptoGladiator
Thu Jul 11 2024
There exists no universal consensus on the methodology for determining this metric.
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Giulia
Thu Jul 11 2024
In stark contrast, Messari, a blockchain analytics firm, reports a mere $5 billion in 24-hour trading volume for bitcoin.
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