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I just had a beginner ask me what those letters on the exchange represent, and I realized that many people might not understand them. Actually, these unit conversions are quite simple, so today I’ll clarify them for everyone.
The most common ones are these: K stands for thousand, which is 1k; M is million, equal to 1M; E is 100 million; and T is trillion. These units can be seen everywhere on exchanges, especially when looking at market prices and trading volume.
One of the most frequently asked questions is how much is 1b. B stands for 1 billion, so 1B is 1 billion. Some people easily confuse B and M; just remember: M is million (6 zeros), B is billion (9 zeros), a difference of one order of magnitude.
Why is it important to understand these? Because when viewing data on exchanges, if you see a certain coin’s market cap is 1.5B, that means 1M; if the trading volume shows 500K, that’s 500k. Without understanding these units, you can easily be misled when looking at market data.
So, to summarize: 1K=1,000, 1M=1 million, 1E=100 million, 1B=1 billion, 1T=trillion. Once you understand these basic units, you won’t be confused when checking various data on exchanges.