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Many beginners get confused by these letters when looking at charts on exchanges. Today, I will clarify these common units of measurement.
Actually, 1M on an exchange represents 1 million, which is the most common. Then going higher, 1K is 1k, and lower, 1E is 100 million, 1B is 1 billion, and 1T is a trillion.
When I usually look at market data, I most often use the 1M unit. For example, if a coin's trading volume shows 5M, that means 5 million in trading volume. If you see 1B, then multiply by 10, which means 1k.
These units appear in candlestick charts, trading volume, open interest, and other places on exchanges, so understanding 1M and other measurement units is quite important. Otherwise, you might misunderstand the data.
To sum up simply: 1K equals 1k, 1M equals 1 million, 1E equals 100 million, 1B equals 1 billion, and 1T equals a trillion. Remember this relationship, and you won't be confused by these letters when analyzing charts.