One coin might trade billions of units a day while another trades only tens of thousands. The first looks busier by count, but differing unit prices make a direct comparison difficult. Separating volume, turnover and liquidity makes price tables easier to read.
Three different measures
- Trading volume: The quantity of assets actually traded during a period. First check the unit shown.
- Traded value (turnover): The sum of each trade's quantity multiplied by its execution price.
- Liquidity: The ability to trade a desired quantity without moving the price substantially. Consider price gaps and available order sizes too.
The label “volume” can refer to quantity or monetary value. Read the unit to see whether it means coins or an amount in KRW, USD or another currency.
When the same coin trades several times, each trade contributes to volume. Turnover of ₩1 trillion does not mean ₩1 trillion of new money entered the market.
Rolling 24-hour volume is not the same as today's volume
A rolling 24-hour figure looks backward from the present; a daily candle counts from that candle's starting time. Exchange time conventions, spot versus futures and the pair's quote currency can all change the numbers.
If 1 million units of hypothetical coin A trade at an average ₩10, turnover is about ₩10 million. If 1,000 units of coin B trade at an average ₩100,000, turnover is about ₩100 million. A trades more units, but B has greater traded value.
What a volume spike cannot tell you on its own
Volume results from buyers and sellers completing trades. Rising volume alone does not prove stronger buying pressure or predict a price increase. Sharp falls, liquidations and reactions to events can also generate heavy trading.
High reported volume can coexist with a thin order book now, and exchanges differ in reporting quality. Before trading, inspect recent turnover, the spread and expected execution prices for your order size. The amounts and quantities here are hypothetical examples for comparing units.
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