Trading Volume

Trading volume is a measure of the quantity or monetary value of assets involved in executed trades during a specified period.

In crypto markets, volume is often reported in the base asset or quoted currency, such as USDT. The measurement period can be one minute, one hour, one day, or another interval.

What volume shows

Trading volume provides information about market activity. Higher volume means that more trades or a larger notional amount were executed during the measured period.

However, high volume does not automatically mean high market depth. Volume measures completed trades, while market depth measures currently available orders in the order book.

Limitations

Different exchanges can report different volumes for the same asset. Data quality also depends on the venue, measurement methodology, and selected time period.