Reported trading volume over the last 24 hours, used to rank venues and assets by activity.

The risk that the other side only hits your quote when they know more than you.

Buying and selling the same risk in two venues to lock a price gap, which helps markets stay aligned.

When futures trade below spot. Short-dated contracts are richer to hold than far ones.

A rush to redeem a stablecoin, ETF, or lending product faster than the issuer can sell reserves.

How tightly an asset moves with a benchmark, often Bitcoin, used as a rough risk factor.

The gap between the highest bid and the lowest ask. A wide spread is a hidden trading cost.

A chart bar that shows open, high, low, and close. The body is the open-close range.

Return from funding, staking, or basis while holding a hedged book, as opposed to betting on price.

When futures trade above spot. Long-futures products bleed as they roll.

How two prices move together. In stress, many alts correlate near 1 with Bitcoin.

The chance the other side of a trade, loan, or custody arrangement cannot pay or deliver.

Bundled custody, leverage, and execution for funds, closer to TradFi prime than to retail CEX accounts.

A private venue where size can trade without showing the full order to the public book first.

An option's sensitivity to a $1 move in the underlying. Market makers hedge delta by trading spot or futures.

A candle whose open and close are nearly equal, often read as indecision.

Buying a fixed amount on a schedule so entry price averages across many days instead of one moment.

The peak-to-trough decline of a price or portfolio, a core measure of pain and risk.

Delivery versus payment. Simultaneous exchange of securities and cash to cut settlement risk.

An exchange-traded fund. Spot Bitcoin and ether ETFs hold the asset and trade as shares on stock venues.

Exchange-traded product, the umbrella that includes ETFs, ETNs, and some trusts.

The freely trading supply. Low float plus hype can produce violent squeezes both ways.

Splitting a high-value asset into many tokens so smaller buyers can hold a slice. Legal title design matters more than the token UI.

A contract to buy or sell an asset at a set date and price. Crypto futures are often cash-settled.

How fast delta changes. High gamma near expiry can force dealers to buy rips and sell dips, or the reverse.

The volatility priced into options. It is a market forecast, not a historical statistic.

The pace at which new supply is issued, often quoted as an annual percentage of circulating supply.

A derivative commonly quoted in fiat units whose margin and profit or loss are calculated in the underlying cryptocurrency using inverse-price arithmetic.

Indication of interest. A non-binding hint of size used to find the other side without showing a firm order.

An OTC or FX habit of confirming a quote after the client hits it. Controversial in crypto RFQ.

Controlling a larger position than the cash posted as margin. Gains and losses both scale.

An instruction to buy or sell only at a chosen price or better. It may rest unfilled.

A derivative whose profit or loss changes proportionally with the underlying price change for a fixed position size, before fees and funding.

How easily size can be traded without moving the price much. Deep books and pools mean better liquidity.

A position that profits if price rises.

A trend-following oscillator built from two moving averages and their difference.

Collateral posted to open and maintain a leveraged position.

Circulating supply multiplied by current price. The primary ranking metric for crypto assets.

An instruction to buy or sell immediately at the best available prices.

The midpoint between best bid and ask, a common fair-value reference.

A smoothed average of recent closes, used as a trend filter rather than a forecast.

Net asset value. The per-share value of a fund's holdings, used to judge ETF premiums and discounts.

Open, high, low, close prices over a fixed interval, drawn as a candlestick on price charts.

The number of derivative contracts still outstanding. Rising open interest means new risk is entering.

Contracts that give the right, but not the obligation, to buy (call) or sell (put) at a strike price.

A list of resting bids and asks on an exchange. The engine matches incoming orders against that book.

Over-the-counter trading arranged away from a public book, used by large tickets that would move a screen.

A futures contract with no expiry. Funding payments keep it near the spot index.

A market that trades event outcomes. Prices are read as implied probabilities.

A firm that packages custody, leverage, settlement, and OTC for funds so they do not juggle ten exchange logins.

Evidence about a custodian's reserve assets at a specified time and within a stated scope; it does not alone establish full solvency.

A coordinated hype cycle that lifts a thin token so insiders can sell into the rush.

A price area where sellers have repeatedly capped advances.

The Relative Strength Index, a 0 to 100 oscillator that flags stretched short-term moves.

A token that is a security under applicable law: ownership, debt, or investment-contract rights, usually with transfer restrictions.

The asset in which a contract's realized obligations or profit and loss are paid, which may differ from its quote or collateral currency.

The chance one side delivers and the other does not, classic in cross-border and OTC crypto.

Excess return per unit of volatility. A simple way to compare strategies after adjusting for swing size.

A position that profits if price falls, typically via a borrowed asset or a derivative.

A forced buy-back cascade when shorts are liquidated into a rising tape.

The difference between the expected price and the fill price, usually worse in thin markets or large orders.

Posting large orders you intend to cancel to trick others about supply or demand.

Trading the actual asset for immediate settlement, not a future or perpetual.

Earning the bid-ask as a market maker, before inventory and adverse-selection costs.

Security token offering. A regulated-style issuance of tokenized securities, contrasted with unregistered ICOs.

A trigger that becomes a sell (or buy) if price trades through a level, used to cap a losing position.

A price area where buyers have repeatedly shown up and slowed a decline.

Traditional securities settlement lags. Crypto spot is closer to T+0, which is why ETF in-kind is operationally hard.

Representing an off-chain claim (bond, fund share, invoice, property interest) as a transferable on-chain token with legal wrapping off-chain.

The supply rules, allocation, distribution schedule, utility, and incentives surrounding a token.

A structure where a custodian holds assets for both a client and a lender or venue under a control agreement.

Time-weighted average price. An execution style that slices an order across time to reduce impact.

A lockup calendar that releases tokens over time so insiders cannot dump the float on day one.

How much price swings. Crypto volatility is typically far higher than large-cap equities.

The notional amount traded over a period. High volume supports a move. Thin volume can fake one.

Volume-weighted average price. A benchmark and an execution style that follows traded volume.