Something strange is going on with the XCH price, with a number of very large orders being both sold and bought. From some observation at my exchange, OkEx, it looks like the volume is about twice as high as it has been in the last few 24 hour periods, but the small 0.1 – 1 XCH trades in and out which are the norm haven’t increased in frequency, but there are a lot more big blocks of 10 – 100 XCH going up and down right away. It was a few large buying blocks that drove the price up $50 in a matter of minutes and it is still ongoing.
I guess price volatility is something that we can expect in all crypto markets, or should at least, but the nature of this volatility makes it difficult to just use the high level volume numbers as any indication. I don’t think there are that many more trades right now, just a few extra very big ones. I think the spike will disappear and it will just be one of the fun things about trading in an unregulated market.