ETH: Spot Volume by Fiat Currency
US dollars of ETH traded against each national currency in each period, stacked by currency.
Why use it. Shows where fiat money meets ETH: how much flows through the dollar, the euro, the won, the yen and the rest, and how that mix shifts when one region buys or sells harder than the others. How to read it. Each band is one currency and the top of the stack is their sum. A won band that swells against the others often comes with a Korea premium; a growing euro or lira band shows demand moving to that region.
Calculation. For each pair, the coins traded in each hour (the venue's own candle) times our USD index for that hour, summed by currency. Venues and pairs read: Coinbase, Kraken and Bitstamp in US dollars, euros and pounds; Kraken also in yen, Australian and Canadian dollars and Swiss francs; Binance in euros, yen, Turkish lira, Brazilian reais, Argentine and Mexican pesos and Indonesian rupiah; Upbit and Bithumb in Korean won; bitbank in yen. Venues whose public data is not open to our reads (bitFlyer and Coincheck for yen, and several regional exchanges) are not included, so a currency's line is the volume on these venues, not the whole market in that currency. Stablecoin pairs are not fiat and stay in Spot Volume by Quote Currency. Each hour's coins traded are valued at our own ETH USD index for that hour (its typical price, (high + low + close) / 3); a day is the sum of its 24 hours. An hour is published once every pair has been read after it closed, so a venue that cannot be read delays the latest hours rather than shortening them. Starts 11 October 2026 at 02:00 UTC, 30 days before our first read (the hourly history the venues serve); collected hourly since.