TermMax Alpha Markets: Trading Volume Is Not Just the Notional
I’ve been looking deeper into how @TermMax measures trading volume in its Alpha Markets, and the calculation is more interesting than simply counting the assets involved in a trade.
The key event is "SwapTokenToExactToken", where trading volume is calculated as:
Trading Volume = tradingAmts − actualTokenIn/Out
That distinction matters because "actualTokenIn/Out" represents the premium or trading cost, so the reported volume reflects the net amount actually swapped.
For example, in one ESPORTS long entry, 520 tokens were involved, while the actual amount transferred was 23.10. That produces 496.90 ESPORTS of trading volume.
On the close, 510 tokens minus 19.73 gives 490.27 ESPORTS.
The short side uses the same logic but values volume in USDT. A GAIX short entry produced 189.75 USDT, while closing it produced 143.25 USDT of trading volume.
What I find important here is that TermMax separates trading activity from the premium paid. That gives a cleaner picture of actual market usage rather than blindly counting gross transaction amounts.
For anyone tracking Alpha Markets growth, this methodology is worth understanding.
Do you think net trading volume is a better metric than gross notional?
$BOME
$MAGMA
$ONG
@TermMax #TermMax
I’ve been looking deeper into how @TermMax measures trading volume in its Alpha Markets, and the calculation is more interesting than simply counting the assets involved in a trade.
The key event is "SwapTokenToExactToken", where trading volume is calculated as:
Trading Volume = tradingAmts − actualTokenIn/Out
That distinction matters because "actualTokenIn/Out" represents the premium or trading cost, so the reported volume reflects the net amount actually swapped.
For example, in one ESPORTS long entry, 520 tokens were involved, while the actual amount transferred was 23.10. That produces 496.90 ESPORTS of trading volume.
On the close, 510 tokens minus 19.73 gives 490.27 ESPORTS.
The short side uses the same logic but values volume in USDT. A GAIX short entry produced 189.75 USDT, while closing it produced 143.25 USDT of trading volume.
What I find important here is that TermMax separates trading activity from the premium paid. That gives a cleaner picture of actual market usage rather than blindly counting gross transaction amounts.
For anyone tracking Alpha Markets growth, this methodology is worth understanding.
Do you think net trading volume is a better metric than gross notional?
$BOME
$MAGMA
$ONG
@TermMax #TermMax