Do trading volumes matter?

Someone told me there’s approximately $50Bn traded on the NYSE per day and the total combined value of all the equities traded on the NYSE is ~$23T. There’s $25Bn in traded volume in cryptos per day (per CMC) but the total value of all combined cryptos is $0.3T. A lot of the cryptos are not profitable companies so it’s not really apples to apples comparison so is it a pointless exercise to look at trading volumes?

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