BTC: Perpetual Trade Frequency Surge Heatmap (All Assets)
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Plus.
Every coin's perpetual trade count per minute in each period as a multiple of its own average over the previous 30 days, one row per coin.
Why use it. Counting trades rather than dollars shows where the crowd is suddenly active. Trades jumping while volume barely moves is a burst of small orders, often retail; seeing every coin at once shows whether the rush is market-wide or one coin's story. How to read it. Coins run down the side, largest open interest at the top, and time runs across; each cell is one coin in one period. 1 is a normal period for the coin; 3 means three times as many trades as usual. The summary value is the same ratio for every coin together.
Calculation. Per coin: its Perpetual Tape Speed (prints per minute over the minutes we captured) in the period / the mean of the same-length periods of the previous 30 days (a coin needs at least seven days of history). A period appears once it has closed. Source: our own trade-by-trade capture of the public perpetual trade feeds of Binance, Bybit, Bitget, Gate, KuCoin, HTX, Crypto.com, Hyperliquid, OKX, Kraken and Deribit, for every coin with perpetual futures that CryptoKeyhole covers, which began on 20 October 2026. Each coin counts with the same values its own Perpetual Tape Speed chart shows. A period appears once nine in ten of the coins have published it. Venues we do not capture are not included.