What is the definition of "volume" in Yahoo Finance's data on BTC-USD and ETH-USD?

  • Number of BTC/ETH that have changed hands on the Blockchain. Actual volume may be significantly higher, I believe, as inside-exchange transfers may never make it onto the chain (like when one user on Coinbase sells to another user on Coinbase; Coinbase may just change some balances in their backend instead of actually issuing transactions at times).
    – ceejayoz
    Jun 12, 2018 at 14:11
  • They are not consistent with BTC: blockchain.info/charts/n-transactions and ETH: etherscan.io/chart/tx. They ETH much higher number over BTC.
    – 180224
    Jun 12, 2018 at 14:32
  • Kraken says: "Bitcoin deposits should be credited after 6 network confirmations (normally about 1 hr but can be delayed when Bitcoin network is slow)".(reddit.com/r/ethtrader/comments/4e64k4/…)
    – 180224
    Jun 12, 2018 at 14:33
  • 1
    @ceejayoz "Number of BTC/ETH that have changed hands on the Blockchain" - how would they know that number? How would you even define that number? Deposits/withdrawals from/to blockchain are not associated to any trades.
    – mastov
    Jun 12, 2018 at 14:45
  • 1
    @ceejayoz Of course, but those transactions on the blockchain have nothing to do with trading and even less with specific trades between a specific currency pair like BTC/USD. It could be just someone buying a pizza. Or someone cashing out money they put into an exchange. Or someone putting money into an exchange without having traded yet.
    – mastov
    Jun 12, 2018 at 14:50

1 Answer 1


Comparing it to the numbers from coinmarketcap.com, which specifies units and breaks down the volume into market places and currency pairs, yields the following results:

  • The volume given by Yahoo has to be in USD. If interpreted as BTC, the number would be far too high.
  • The volume only includes real BTC/USD trading, not BTC/USDT (using Tether, a pseudo-$ on a blockchain, in order to move classic fiat money easily between exchanges).
  • The volume excludes markets that don't charge trading fees, otherwise the volume would be far higher.

Summing up all 24h market volumes of the BTC/USD trading pairs without fees gives a result in $ that is similar in magnitude to the number given by Yahoo as "Volume (24h)". Since the number on Yahoo is slightly lower, I guess that they don't cover smaller exchanges, only the biggest 6 or 7, approximately.

The number "Volume" is the volume traded today (resetting at midnight UTC), the number "Volume (24h)" is the volume traded during the last 24h.

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