CoinMarketbook tells a different story

img src

CoinMarketbook is a great resource for not only seeing how much trade volume there is for different blockchains in crypto right now without all the bias or distractions that you might find on Coinmarketcap. Coinmarketcap lets you easily view the different prices of projects in the space, but it also gives you some misleading information and leads you to believe that the actual market cap of a coin is the most important thing.
https://coinmarketbook.cc/

The most important thing in my opinion to focus on in crypto especially in this bear market is looking at projects with the highest trade volume and the most participation (the most users). Bitcoin and Ethereum both still have a lot of trade volume and participation. Ethereum still has a lot of Dapps being added to their blockchain on a daily basis, so I'm not really too worried about the future of Ethereum in the long term, just my opinion. If you go to this website and search for ETH you can see that the amount of ETH trade volume right now is similar to what it was almost 2 years ago in terms of the gray candles. https://coinmarketbook.cc/#ethereum The gray candles on this chart show the trade volume and the red and green candles show price increases or decreases, but I like to think of it as buy and sell orders.

Steem trading volume is getting closer to what is was around this time last year according to this chart of gray candles, and Steem trade volume has picked up some recently. https://coinmarketbook.cc/#steem

Tron trading volume is still high, but it isn't as high as it was last year. https://coinmarketbook.cc/#tron

Litecoin still has a lot of trade volume right now despite the huge drop in its price and it appears that people are willing to buy more Litecoin, especially at these prices. https://coinmarketbook.cc/#litecoin

Neo also has a lot of recent buy/sell orders according to this chart.
https://coinmarketbook.cc/#neo

EOS trading volume is still very high and there have been a bunch of consistent buy/sell orders since November. It looks to me like EOS tells the most compelling story here as the trade volume still remains very high despite the price of EOS also taking a hit from this bear market.
https://coinmarketbook.cc/#eos

Also, if you scroll down the page you'll be able to see buy support ratings in relationship to Bitcoin. ETH currently has a 20.3% buy support rating in relationship to Bitcoin, XRP is at 7.95%, EOS is at 6.4%, Tron is at 4.14%, LTC is at 4.12%, and Neo is at 2.01%.

While trading volume doesn't tell the whole story it is usually a good indicator of how much current interest there is in a project. If there are a lot of buy/sell orders that is usually a good thing and often means that there is more interest growing in a certain project. Usually when trade volume increases the price increases although this isn't always the case. A lot of buy and sell orders can also indicate increased Dapp activity although a lot of these transactions aren't going to be recorded on the exchanges.

Trading volume can obviously change though, so again this isn't perfect. I also am not affiliated with this website in any way, so I'm not sure of the accuracy of the website. As always, this is not financial advice and you should do your own research.