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I've also been confused by these symbols on the exchange. Today I finally understand them better, so I'm sharing with anyone who's also curious.
What does 1M mean? It stands for 1 million, used to indicate value or quantity. There are also some other units:
1K = 1 thousand (kilo)
1M = 1 million (mega) - this is the most commonly seen when viewing charts
1E = 100 million (ek)
1B = 1 billion (billion)
1T = 1 trillion (trillion)
A simple way to remember is that each step differs by one or a few zeros. When I first started trading, I often saw these numbers but didn't know how to interpret them. Now, reading charts or volume is much easier. Beginners should familiarize themselves with these to avoid confusion.