{"id":260659,"date":"2021-05-27T20:31:22","date_gmt":"2021-05-27T17:31:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/"},"modified":"2021-05-27T20:31:22","modified_gmt":"2021-05-27T17:31:22","slug":"pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/","title":{"rendered":"# Pumped up by volume? 5 crypto assets that traders loved this month (and their prices)"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a42a3991f8c3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a42a3991f8c3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/#Polygon_MATIC_64379\" >Polygon (MATIC ): +643.79%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/#Ethereum_Classic_ETC_22923\" >Ethereum Classic (ETC): +229.23%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/#Telcoin_TEL_5078\" >Telcoin (TEL): +507.8%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/#iExec_RLC_RLC_115362\" >iExec RLC (RLC): +1,153.62%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/pumped-up-by-volume-5-crypto-assets-that-traders-loved-this-month-and-their-prices\/#OKB_Token_25328\" >OKB Token: +253.28%<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Pumped up by volume? 5 crypto assets that traders loved this month (and their prices) <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Trading volume \u2014 the amount of an asset that changed hands over a given period \u2014 is one of the key metrics that investors use to track price trends and assess the market outlook for a specific coin in terms of liquidity and trader activity.<\/p>\n<p>The ranking below zooms in on the fortunes of five coins that have had the greatest increase in average daily trade volume this month compared to the month before. Most of them \u2014 although not all \u2014 emerged as massive winners in terms of their monthly returns, but the relationship between the price and trading was not always what you\u2019d expect. <\/p>\n<p>The data from Cointelegraph Markets Pro platform sheds further light how these two indicators can influence each other.<\/p>\n<p>Along with multiple other quantitative metrics, trading volume is at the heart of the VORTECS\u2122 Score \u2014 an algorithmic comparison of historic and current market conditions derived from billions of data points gathered and analyzed by a proprietary machine learning model.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Polygon_MATIC_64379\"><\/span>Polygon (MATIC ): +643.79%<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Capitalizing on the sprawling activity in the DeFi sector and the expansion of the number of projects springing up on its platform, Polygon has had a fantastic month, conquering one all-time high (ATH) after another. The coin delivered 329% vs. USD and 456% vs. BTC alongside a 643% increase in average daily trading volume.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/6c6629c3-1a31-4325-9caf-9ab77f290bb1.png\"><\/figure>\n<p>The trading volume dynamics faithfully followed each price uptick, reaching an impressive $11 billion on May 19. On that day, MATIC was responsible for as much as 4.5% of the crypto market\u2019s overall trading volume.<\/p>\n<p>From the look at the VORTECS\u2122 score chart, it becomes <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent that trading volume spikes have been an essential component of each ultra high-score stretch that MATIC sported this month (red circles in the graph). These dark-green sequences, in turn, foreshadowed each new leg of the coin\u2019s powerful rally.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/6e237b7e-7e8e-41be-b2c8-11a23495ecb4.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Ethereum_Classic_ETC_22923\"><\/span>Ethereum Classic (ETC): +229.23%<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A legacy chain of the original Ethereum that has been abandoned by much of the community in the wake of the 2016 the DAO heist, ETC has a small but enthusiastic fanbase and a reputation of a network lacking security.<\/p>\n<p>Observers are divided on what exactly triggered ETC\u2019s 300% price run, closely followed by surging trading volume, in the first week of May. Opinions range from users suddenly seeking cheaper alternatives to the main Ethereum network to new investors mistaking the coin for its better-known cousin.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/8ea12fa1-86ec-4915-bfa5-15ee2897f0b3.png\"><\/figure>\n<p>At any rate, at the height of its May 6 rally, ETC commanded a shocking 15.9% of the crypto market\u2019s overall trading volume \u2014 not too bad for a coin that has risen from years of oblivion.<\/p>\n<p>Going by the VORTECS\u2122 chart, not only ETC\u2019s showing was unexpected &#8211; it was historically unparalleled. The combination of market and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> conditions that preceded the coin\u2019s blast-off was not similar to those that systematically came before ETC\u2019s price leaps in the past, as evidenced by largely neutral VORTECS\u2122 Scores.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/c6e8992e-3dd0-4620-8742-65eb3281e544.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Telcoin_TEL_5078\"><\/span>Telcoin (TEL): +507.8%<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Telcoin, a global remittance platform whose token appreciated by 437% against USD and 600% vs. Bitcoin over the past month, owes at least some of its success to Polygon\u2019s fiery run. The likely reason behind TEL\u2019s surge in early May has been a layer-2 migration to the lower-fee Polygon network and the token\u2019s subsequent listing on QuickSwap that opened attractive terms for liquidity providers.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/979b13f3-f49e-40b7-9510-c433cbd1317e.png\"><\/figure>\n<p>As visible in the graph, it was the QuickSwap moment that produced the greatest increase in TEL\u2019s trading volume rather than the even bigger price hike that followed a few days after.<\/p>\n<p>It was the same surge in trading activity between May 2 and 8 that the VORTECS\u2122 algorithm picked up and, in conjunction with other constituent metrics, deemed worthy of a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of high VORTECS\u2122 Scores that began flashing around three days before the final leg of the price hike.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/9a0a9da9-fa56-4af1-bfe2-0eaff78aa903.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"iExec_RLC_RLC_115362\"><\/span>iExec RLC (RLC): +1,153.62%<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>RLC, the native token of cloud computing platform iExec, demonstrated the greatest month-to-month growth in average daily trading volume, adding an astounding 1,153% compared to the previous 30-day period. The coin\u2019s price began picking up following the May 4 announcement of a Coinbase Pro listing and was boosted even more by a cascade of further exchange listings, big-name partnerships and collaborations, as well as the announcement of a developer rewards program. Over the month, RLC delivered 200% gains against USD and almost 300% against Bitcoin.<\/p>\n<p>As the chart supplied by data analytics firm The TIE suggests, on May 8 and early May 9 the trading volume indicator mirrored the steeply upward price movement with a few hours\u2019 lag. The two lines then effectively merged, indicating that further increase in trading volume was no longer driven solely by price action, but began responding to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> and heightening sentiment around the coin independently.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/34a58917-5e92-4731-92bf-a69fca1c24dc.png\"><\/figure>\n<p>As visible in the graph, RLC\u2019s VORTECS\u2122 score had been neutral (yellow) in the days preceding the coin price\u2019s spike, and briefly turned moderately bullish (light green) as the rally unfolded. However, when both the price and trading volume peaked, the VORTECS\u2122 Score went from bullish back to neutral (red boxes in the graph), meaning that in the past such concerted upticks in both price and trading volume were not followed by price consistently going up or down. <\/p>\n<p>In summary, RLC\u2019s run this month did not have clear historical precedents in terms of market and social activity regularities that VORTECS\u2122 score could capture. Rather, it has been driven by a series of bullish news announcements. This is where another element of Markets Pro functionality, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ctmarketspro.helpscoutdocs.com\/article\/31-what-are-newsquakes\">NewsQuakes<\/a>\u2122, comes into play: In the same graph, it is plain to see how two listing announcements, on Coinbase Pro and Bithumb (red circle in the chart), came shortly before the rally.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/962a0328-69bf-4682-9be2-fec88217b465.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"OKB_Token_25328\"><\/span>OKB Token: +253.28%<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The average daily trading volume of the OKEx exchange token, OKB, grew by more than 250% this month. However, this fact did not translate to a corresponding increase in the utility token\u2019s price: Over the same 30 days, OKB lost 18.76% against USD and gained a mere 4.89% against the beleaguered Bitcoin.<\/p>\n<p>A look at the token\u2019s price vs. trading volume chart offers some explanation of this discrepancy. While trading volume largely mirrored price movement in the first half of the month, the two starkly diverged around May 19 and 20, around the time of the market-wide slump. As the price declined, the trading volume shot up.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/e9398f9c-16aa-497a-b927-64d17794d5a6.png\"><\/figure>\n<p>This key to this seemingly paradoxical dynamic lies in the nature of the asset. In a bid to keep the value of the token high, every three months OKEx<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.okex.com\/okb\"> reduces OKB supply<\/a> by buying back burning a few million coins. As the current burning period is set to expire at the end of May, some traders likely wagered on OKB staying afloat thanks to the guaranteed buyback liquidity when other digital assets were in a tailspin. Indeed, a surge in trading volume did support a brief rebound, yet it could only be sustained for a couple of days before the asset began sliding down again.<\/p>\n<p>Note how the VORTECS\u2122 algorithm remained unfazed by the May 20 increase in trading volume as the score remained neutral. A constantly learning model, it has surely seen such token burn-inspired spikes before \u2014 and apparently, in the past these spikes didn\u2019t always spell significant price increases.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/84075f3e-34fe-4588-bf10-84948c9b573d.png\"><\/figure>\n<p>Any single metric describing an asset\u2019s market outlook can be uninformative or even misleading on its own, yet it becomes exponentially more useful when contextualized within the recurring patterns of the VORTECS\u2122 algorithm&#8217;s other metrics (which include price action, sentiment, and tweet volume).<\/p>\n<p class=\"post-content__accent post-content__accent_small\">Cointelegraph Markets Pro is available exclusively to members on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.<\/p>\n<p><em>Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. <\/em><em>Full terms and conditions<\/em><em>.<\/em><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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