The volume of traded HIVE on MEXC is huge! I don't know if the same thing is happening in other CEXes where HIVE is traded.
HIVE surpassed the volume of XRP, HBAR, and Pi. I am not certain how to interpret this.
In the stock market, a huge volume of traded shares would mean that a particular stock is catching the attention of investors. I am not sure if the same could be said in the case of HIVE.
Perhaps, such a huge volume only indicates that a MEXC whale or a huge number of traders on MEXC are positioning themselves for what is about to take place.
It is unusual to see such a large volume on a downtrend. Typically, a selling pressure of that size would crash the price. However, despite that gigantic volume, somebody or a group of buyers absorbed it.
Anyhow, my key takeaway from such volume is that I am expecting significant price action to take place in days to come.
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