Achieving a target trading volume on a specific cryptocurrency requires careful planning and strategic execution.
Particularly with lesser-known tokens, often referred to as “shitcoins”, determining the number of transactions and wallets involved is key.
In this blog post, we’ll delve into how many transactions from varying wallet counts are necessary to reach a 24-hour trading volume target of 1 million dollars.
Breaking Down the Numbers
Let’s start with the basics. Trading volume represents both buy and sell transactions. Therefore, to achieve the target of $1 million in trading volume, you need to consider the total value of buy and sell orders.
To reach a volume of $1 million with each wallet holding 0.5 ETH (approx. $900 considering the current ETH price of around $1800), you need a specific number of transactions from each wallet. Let’s look at four scenarios with 10, 25, 50, and 100 wallets.
- 10 Wallets: Each wallet will have to process transactions amounting to $100,000. With each wallet having 0.5 ETH, it will require around 111 transactions per wallet, totaling 1,111 transactions.
- 25 Wallets: Each wallet will have to process transactions amounting to $40,000. This would require around 44 transactions per wallet, totaling 1,111 transactions.
- 50 Wallets: Each wallet will have to process transactions amounting to $20,000. This translates to around 22 transactions per wallet, totaling 1,111 transactions.
- 100 Wallets: Each wallet will have to process transactions amounting to $10,000. This would require around 11 transactions per wallet, totaling 1,111 transactions.
Please note that these calculations do not account for price fluctuations in ETH during the trading period.
The cost of each transaction, assuming a gas price of 50 Gwei and a maximum gas limit of 700,000, would be 0.035 ETH or roughly $63 at the current ETH price.
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Achieving a high trading volume requires strategic planning and efficient execution of transactions across multiple wallets.
Understanding the impact of wallet count, transaction numbers, and associated fees is essential.
With the right knowledge and tools like the Market Maker Bot, reaching your trading volume target becomes a well-structured process.