CryptoQuant CEO: Whales are preparing for the next round of altcoin rebound, and the volume of limit buy orders has increased
Odaily2024/08/01 01:53
By:Odaily
Odaily News Ki Young Ju, CEO of CryptoQuant, posted on social media that “whales are preparing for the next round of altcoin rebound. The volume of limit buy orders for altcoins other than Bitcoin and Ethereum is increasing, indicating that a strong buy wall is being established. In the trading platform, market orders generate take order volume and limit orders generate order volume. Whales and institutions (such as market makers and brokers) often use limit orders for large transactions to avoid slippage. The indicator is calculated by calculating the cumulative sum of the difference between the buy and sell order volumes, using a 1-year moving window. If an upward trend occurs, it means that the buy order volume is increasing, indicating that more powerful buy walls are forming.”
1
1
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US and Nigeria lead AI conference in Lagos to enhance technology use
Grafa•2024/09/09 02:35
![](https://img.bitgetimg.com/multiLang/image/social/19ff8af7ecd6f2ea4865d6d92813bee41725849303097.jpg)
UK regulator reports high failure rate for crypto firm registrations
Grafa•2024/09/09 02:35
![](https://img.bitgetimg.com/multiLang/image/social/ddf49229d51af8013a8dc340b187b7d91725849303360.jpg)
Tornado Cash sees renewed activity as $50M laundered in September
Grafa•2024/09/09 02:35
![](https://img.bitgetimg.com/multiLang/image/social/27249a6b20096a627d86575f8f0889f91725849303502.jpg)
El Salvador taxi driver builds business with Bitcoin gains
Grafa•2024/09/09 02:35
![](https://img.bitgetimg.com/multiLang/image/social/bc29d08b54a18e02a6e63990945535a11725849303595.jpg)