If the largest trading pair for a coin is with a Fiat Currency, there are a few possibilities:

1. People are getting out of Crypto
2. People are buying in to Crypto
3. People are Trading for other currencies that dont have a direct Trading pair
4. The Volumes are being manipulated some how

Hive

When you look across different currencies you get some interesting Pictures as to where all the trading volume is occuring. Picking a few coins from the top 10 to look at

BTC

ETH

ADA

The trend is that Most Activity is happening with a Fiat pair, which to me is worrying because

• I dont believe the whole world has just suddenly started buying Crypto but there is certainly money flowing in.
• People are obviously not all selling because the price is going up so I wonder if its mainly option 3 or 4?

What do you think?

are there other possibilities? and what does the volume data say about Hive?

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