Trusted Volume

Definition

The sum of all volume from the spot markets of a set of trusted exchanges in units of U.S. dollars.

Name

MetricID

Unit

Interval

Trusted Spot Volume

volume_trusted_spot_usd_1d

USD

Trusted Spot Volume, 1 Hour

volume_trusted_spot_usd_1h

USD

Details

Our trusted volume metric is an aggregation of the reported volume from exchanges that we consider the most accurate and trustworthy. The full list of constituent exchanges included in our Trusted Volume can be found here

API Endpoints

Trusted Spot Volume can be accessed using the timeseries/asset-metrics or timeseries/pair-metrics endpoints by passing volume_trusted_spot_usd_1d or volume_trusted_spot_usd_1h into the metrics parameter.

Asset metrics

Returns requested metrics for specified assets. Results for block by block metrics (1b frequency) are ordered by tuple (asset, height, block_hash), all other metrics are ordered by tuple (asset, time). You can change the sorting using sort query parameter. Supported output formats are json (default) and csv, use format query parameter to override it. To fetch the next page of results use next_page_url JSON response field or x-next-page-url CSV HTTP header if present. If multiple metrics are requested in the same time the strict policy for partially available metrics among requested ones is applied:

GEThttps://api.coinmetrics.io/v4/timeseries/asset-metrics

Authorization

Query parameters

Response

Time series of metrics for an asset.

Body

data*any

next_page_tokenNextPageToken (string)

Token of the next page results for a given request.

next_page_urlNextPageUrl (string)

URL of the next page results for a given request.

Response

{
  "next_page_token": "text",
  "next_page_url": "text"
}

curl --compressed "https://api.coinmetrics.io/v4/timeseries/asset-metrics?assets=btc&metrics=volume_trusted_spot_usd_1d&frequency=1d&pretty=true&api_key=<your_key>"

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/asset-metrics?assets=btc&metrics=volume_trusted_spot_usd_1d&frequency=1d&pretty=true&api_key=<your_key>').json()
print(response)

from coinmetrics.api_client import CoinMetricsClient

api_key = "<API_KEY>"
client = CoinMetricsClient(api_key)

print(
    client.get_asset_metrics(
        assets=["btc"], metrics="volume_trusted_spot_usd_1d", limit_per_asset=5
    ).to_dataframe()
)

Pair metrics

Returns metrics for specified asset pairs. Results are ordered by tuple (pair, time). To fetch the next page of results use next_page_url JSON response field.

GEThttps://api.coinmetrics.io/v4/timeseries/pair-metrics

Authorization

Query parameters

Response

Time series of pair metrics.

Body

data*any

next_page_tokenNextPageToken (string)

Token of the next page results for a given request.

next_page_urlNextPageUrl (string)

URL of the next page results for a given request.

Response

{
  "next_page_token": "text",
  "next_page_url": "text"
}

curl --compressed "https://api.coinmetrics.io/v4/timeseries/pair-metrics?assets=btc&metrics=volume_trusted_spot_usd_1d&frequency=1d&pretty=true&api_key=<your_key>"

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/pair-metrics?assets=btc&metrics=volume_trusted_spot_usd_1d&frequency=1d&pretty=true&api_key=<your_key>').json()
print(response)

from coinmetrics.api_client import CoinMetricsClient

api_key = "<API_KEY>"
client = CoinMetricsClient(api_key)

print(
    client.get_pair_metrics(
        assets=["btc"], metrics="volume_trusted_spot_usd_1d", limit_per_asset=5
    ).to_dataframe()
)

Chart

Examples

A sample of the daily trusted volumes data for Bitcoin is shown below:

assets

time

volume_trusted_spot_usd_1d

btc

2020-09-21 00:00:00

44395555400

btc

2020-09-22 00:00:00

60004540100

btc

2020-09-23 00:00:00

45919134800

asset. The IDs of the asset.
time. The reference rate time in ISO 8601 date-time format.
volume_trusted_spot_usd_1d. The trusted volume value in units of U.S. dollars.

Release History

Release Version. Market Data Feed v2.2 - Jan 21, 2021 rollout (not a separate MDF version)

Interpretation

Fake trading volume is a persistent problem on crypto exchanges. With little regulatory oversight, it can be difficult to determine whether reported volume numbers are accurate or exaggerated. At Coin Metrics, we’ve taken a data driven approach to the problem and offer a trusted volume metric, derived from the Trusted Exchange Framework, to help identify legitimate trading volume. Our trusted volume metric is an aggregation of the reported volume from exchanges that we consider the most accurate and trustworthy. This is based on a combination of both quantitative and qualitative features. The current set of trusted volume metrics consider spot markets only and do not include futures or options markets.