Volume

Volume (Trading Pairs)

The volume for each trading pair is calculated by taking the 24h volume reported directly from the exchange API in quote units. If the pairs' volume is not denoted in USD, then we will convert it to USD using TokenInsight's existing reference prices.

Same as the price methodology, TokenInsight converts non-USD fiat currencies (e.g. JPY) to USD prices based on current FX rates provided by OpenExchangeRate.

Example 1: USD Pairs Volume

We assume Exchange A has BTC/USD pair, and this pair has the following information:

  • Exchange A: BTC/USD = 10,000,000 USD trading volume in 24 hours (reported directly from Exchange A's API)

Hence, the reported BTC trading volume on TokenInsight for BTC/USD trading pair volume in Exchange A is 10,000,000 USD.

Example 2: Non-USD Fiat Pairs Volume

We assume Exchange A has BTC/JPY pair, and this pair has the following information:

  • Exchange A: BTC/JPY = 1,250,000,000 JPY trading volume in 24 hours (reported directly from Exchange A's API)

  • The last known reference price (OpenExchangeRate) of JPY in USD = 0.008 USD/ 1 JPY

  • BTC/JPY Volume (Exchange A) = 1,250,000,000 JPY * (0.008 USD/ 1 JPY) = 10,000,000 USD

Hence, the reported BTC trading volume on TokenInsight for BTC/JPY trading pair volume in Exchange A is 10,000,000 USD.

Example 3: Other Crypto Pairs Volume

We will explain this with ETH/BTC as the example. We assume Exchange A has ETH/BTC pair, and this pair has the following information:

  • Exchange A: ETH/BTC = 100 BTC trading volume in 24 hours (reported directly from Exchange A's API)

  • TokenInsight's last known reference price of BTC in USD = 40,000 USD/ 1 BTC

  • ETH/BTC Volume (Exchange A) = 100 BTC * (40,000 USD/ 1 BTC) = 4,000,000 USD

Hence, the reported ETH trading volume on TokenInsight for ETH/BTC trading pair volume in Exchange A is 4,000,000 USD.

Volume (Cryptocurrencies)

The volume of any cryptocurrency listed on TokenInsight is the total spot trading volume reported by all exchanges over the last 24 hours for that cryptocurrency.

The invalid trading pairs denoted by grey background and text style will be excluded from the calculation.

Pairs with the following volume features will be manually excluded from the calculation of the total spot trading volume:

  1. Null value for the trading volume returned by the exchange API.

  2. Pairs that have no new trading data being obtained from the exchange in the last three hours.

  3. Susceptible to wash trading, artificially inflated reported volumes detected manually by our analyst.

Volume (Exchanges)

The volume of any exchange listed on TokenInsight is the sum of all trading volume (total spot volume + total derivative volume) reported by the exchange over the last 24 hours.

  • Total Spot Volume - is the sum of all spot trading pair volume reported by the exchange over the last 24 hours

  • Total Derivative Volume - is the sum of all derivative trading pair volume reported by the exchange over the last 24 hours

Note: Invalid market pairs that have been excluded from the cryptocurrencies calculation are not excluded from the exchange volume calculation. The reason is some trading pairs are invalid only because of their inactive trading behaviour in the last 3 hours. However, the exchange volume is calculated within 24 hours.

Volume (Global)

The global volume of the whole cryptocurrency market (top of the website, below the menu bar) is the sum of the last 24 hours volume of all centralized exchanges and the last 24 hours volume of all decentralized exchanges listed on TokenInsight.

Last updated