What is 24h Volume?
24h volume is a measure used in markets to track the total amount of trading activity for a specific asset within a single day. It's a key metric for understanding how actively an asset, such as a cryptocurrency, NFT or stock, is being bought and sold over a 24-hour period.
As an example, if Bitcoin had a 24h Volume of $50 billion, it could be used to compare to other days to determine whether the trading activity is high, average, or low.
Limitations?
While 24h volume is a valuable metric, it has limitations. It does not distinguish between buy and sell transactions or the number of individual trades. Additionally, volume can be influenced by factors like wash trading (artificially inflating volume) or illiquid markets.
Usage in Infinity Wallet
Infinity Wallet incorporates the 24h volume metric to update users on the total trading activity of various cryptocurrencies. This helps users assess market liquidity and trading activity levels in the app, enabling more informed decision-making for trading.