OK. First off -generally yes- volume of transactions is a very good indicatior. Here are two websites that show numbers. https://www.cryptofresh.com/assets and http://open-explorer.io/#/assets Now. I would like to warn you that I have seen crazy data at these websites(result of bad coding). The websites do not go back in time. I did look at them in the fall.
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So let me throw some more warnings out there, you have to also be aware of "wash trading". It is easy to fake volume -take two accounts and transfer a bunch of coins back and forth a bunch of times. This happens regularly on scam coins listed there. That said, I have seen seen these numbers rise. Normally, in Oct there was around 40 million a day in US dollar equivalent volume. Recently there has been 100 to 140 million a day. I just saw today one said $12 million so I don't know what is up. All of this to say I think generally, both market volume and numbers of accounts have doubles/tripled in the last few months.
So the problem with USD volume is when the price of BTS goes from 0.88 to 0.22; USD volume falls by 75% as well. And just to be clear I have seen scam coins have a volume of 10% of the daily volume (IE it looks like there is $45 million of volume but $5 million is a scam coin so that number is off 10%.) Transactions are just as easy to fake as volume numbers. (it is all done by computers...). When it works there are some real nice charts on the cryptofresh site.
https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-13th-february-2018