ETH: Spot Trade-Feed Coverage of Reported Volume by Venue
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Pro.
For each venue, the US dollars of ETH spot trades we captured print by print from its public trade feed over the last 24 hours, as a percentage of the 24-hour volume the venue itself reports for the same markets.
Why use it. Reported volume is the number every league table uses. Comparing it with what appears trade by trade on the venue's public feed shows how much of it can actually be observed. How to read it. Near 100% means the reported volume matches what the public feed shows. Well below 100% means part of the reported figure did not appear in the feed we capture, which mostly reflects how the venue counts and publishes its volume or which pairs we collect: a steady reading near 50%, as KuCoin shows, means the venue's 24-hour figure is about twice what its own trade feed adds up to. It is a coverage measure, not a verdict on any venue's volume. The summary value is all venues together, captured over reported.
Calculation. 100 x taker US dollars captured over the last 24 complete hours / the venue's reported trailing 24-hour volume at the end of those hours. A venue counts when at least 23 of the 24 hours were captured. Closed hours and days only. This per-venue view is published for the largest markets only. Source: our own trade-by-trade capture of the public spot trade feeds of Binance, Bybit, Bitget, Gate, KuCoin, HTX, Crypto.com, OKX, Coinbase and Kraken, for ETH's spot markets against USD, USDT, USDC and FDUSD; every trade is bucketed by its US-dollar size as it arrives. A print is one taker order's execution at one moment as the venue publishes it: the fills one aggressive order makes against several resting orders at once are merged into one print, using the venue's own order, match or transaction identifiers where it publishes them (KuCoin, Coinbase, Bybit, OKX, Deribit, Crypto.com, HTX, Hyperliquid) and otherwise the same millisecond and side (the same microsecond on Kraken spot). A print is a fill, not a parent order: a large order split into smaller pieces over time, by an algorithm or by hand, lands in the buckets of its pieces, so the large buckets show what was executed in one go and the small buckets include pieces of larger orders. Who traded is not known: sizes say nothing about the identity of a trader. Stablecoin quotes (USDT, USDC, FDUSD) count at face value as USD. Trades missed during a reconnect are not estimated, and venues we do not collect are not included, so totals understate the whole market. History starts when this collection began on 20 October 2026; no earlier values are reconstructed. OKX, Coinbase and Kraken are included from 23 October 2026, when this collection added them; no earlier values are reconstructed for them.