... but as of now is anyone selling this coin? I check it frequently and i dont see any big/aggressive selling...
(Or perhaps nobody can remember these wallet encryptions like the one i forgot on my laptop)
Volume comes from buyers, not sellers. If a coin is desireable and somebody wants it they buy a certain amount in the base currency of course, not in the target currency. Somebody going to buy bitcoin does not say "I want a million bitcoin", rather they say "I have $100 and want to buy some bitcoin with it".
On the other hand, to motivate an investor, he or she needs to have enough of a coin that they have a responsibility to make some improvement to it. If a person has one trillionth of the coin supply of bitcoin they are not going to think too much about improving the coin. But if they have one thousandth of the coin supply of xjo, for example, then they do want to add value to it.
xjo has ~32m coins outstanding
https://chainz.cryptoid.info/xjo/The whale at Cryptopia has about 800,000 coins, followed by 240k, 170k and 130k. So about 4% of coins are on Cryptopia, and in the hands of 4 whales. 235k coins are for sale there, well under 1%. Another few 100k in smaller wallets.
Yobit does not show distribution by customer wallet, but they have 225k for sale up to 170 sats, so they probably have more coins than Cryptopia.
A person can estimate that at least 10% of coins are held in exchange wallets for customers, another few percent probably owned by the exchanges to use for arbitrage.
So there are enough coins at the exchange, and if the coin were improved, some new feature added that would give a reason to favor xjo over other coins, then buyers might step in.
Yobit is providing more liquidity in the coin and is likely where a trend would start, then the whale on Cryptopia would react probably and sell some.
