Documentation

Accumulation/Distribution Metrics

The Liquidity table displays key indicators of crypto-asset liquidity and activity, including price, market capitalization, trading volume, buy-to-sell ratio, VWAP, and volume changes over the past 24 hours. This comprehensive set of metrics is designed for quick and efficient assessment of a cryptocurrency asset's current state — evaluating liquidity, trading activity, the balance between buyers and sellers, and prevailing market sentiment, without requiring deep technical analysis or complex chart reading.

Rank

Asset's position in the overall ranking, typically sorted by market capitalization or trading volume. Lower numbers indicate larger, more established cryptocurrencies.

Asset

The cryptocurrency or token name along with its trading symbol (e.g., BTC for Bitcoin). This identifier is used across all exchanges.

Price (USD)

Current market price in US dollars. This is the real-time price at which the asset is being traded across major exchanges.

Market Cap

Market capitalization calculated as price × circulating supply. This metric shows the total value and scale of the asset in the market.

Spot Volume

Total spot trading volume over the selected period. Higher volumes typically indicate better liquidity and easier entry/exit positions.

Volume Delta

Buying minus selling inside the period, in quote currency: taker buy volume less the rest of the turnover. Positive means more of the period's volume was buyers lifting the offer. It is not a comparison with the previous period.

Buy Ratio

Percentage of buy orders relative to total trading volume. Values above 50% suggest bullish sentiment with buyers dominating the market.

VWAP

Volume Weighted Average Price. This benchmark represents the "fair" price based on actual trading volumes, used by traders to assess value.

Trades

Total number of individual transactions executed. Higher trade counts reflect active participation and strong market interest.

Vol/MCap

Ratio of trading volume to market capitalization. This percentage indicates trading intensity — higher values suggest the asset is being actively traded relative to its size.

CVD 24h

Cumulative Volume Delta over 24 hours, visualized as a chart. This indicator shows the net difference between buying and selling pressure, helping identify whether buyers or sellers are in control.

Impulse Metrics

Impulses are single trades of $10,000 or more. They come from a separate feed, not from Whalio's spot candles, and they are futures trades: hour by hour their net buying tracks Binance USDT-margined perpetual flow (correlation 0.52 across 19 coins) far more closely than spot flow (0.22), and for BTC and ETH their hourly total often exceeds the whole spot market's volume. The Impulses dashboard tracks them across different cryptocurrencies — helping identify market momentum, detect unusual trading activity, and understand the balance between buying and selling pressure.

Symbol

The cryptocurrency trading symbol (e.g., BTC for Bitcoin, ETH for Ethereum). This standardized identifier is used across all major cryptocurrency exchanges worldwide.

Price

Current market price in US dollars with percentage change from the previous period. Green indicates price increase (bullish), while red shows price decrease (bearish).

CNT (Count)

Number of impulses (significant transactions) detected for this symbol during the selected time period. Higher counts indicate increased trading activity and market interest.

Total Amount

Total trading volume in USD for all impulses during the selected period. This metric reflects the total capital moved in impulse transactions.

Dif. Amount

Difference between buy and sell volumes. Positive values (green) indicate net buying pressure; negative values (red) show net selling pressure.

Last Update

Timestamp of the most recent impulse activity for this cryptocurrency, helping you track the freshness of market movements.

The Impulses page automatically refreshes every 30 seconds to provide the latest market data.

Where the data comes from

The order-flow figures on this site are computed by Whalio, not licensed from an analytics provider. The input is Binance's public kline endpoint: for each period it returns the close price, the total traded volume, the number of trades, and — the part most sites discard — how much of that volume was taker buy volume, meaning trades that hit the offer rather than the bid.

Candles are pulled hourly for the 1h, 4h and 1d intervals across roughly 150 assets, and only closed candles are stored: the period still forming is skipped, because its volume covers a fraction of an hour and would read as a collapse in activity. Market capitalisation, ranking and asset names come from CoinMarketCap. News headlines come from a third-party news API.

The formulas

Buy Ratio

Taker buy base volume divided by total base volume, as a percentage. 50% means the period's volume was split evenly between trades hitting the offer and trades hitting the bid.

Volume Delta

(2 × taker buy quote volume) − total quote volume. Anything that is not a taker buy is a taker sell, so this works out as buy volume minus sell volume, in dollars.

CVD (24h)

The running sum of the last 24 hourly volume deltas, which shows whether net buying accumulated across the day or drained away in a single hour.

Percentile rank

Where the latest daily reading sits among that coin's own last 365 days, as the share of days below it. A coin needs 60 days of history before it is ranked at all; the rest are left unranked rather than compared against too little.

Futures and positioning

Most crypto volume trades on perpetual futures, not spot. For every tracked coin that has a Binance USDT-margined perpetual (about 150), Whalio stores an hourly record from Binance's public futures API and shows it on the coin page and the market readout.

Funding rate

What holders of long perpetual positions pay holders of short ones at each settlement, usually every 8 hours. Shown per settlement and annualised (rate × settlements per day × 365), and ranked against the coin's last 90 settlements. Positive and high means the long side is crowded.

Perpetual premium

How far the perpetual trades above or below Binance's index price for the coin, at the close of the hour.

Open interest

The dollar value of all open perpetual positions, and its change over 24 hours. Rising means new positions are being opened on balance; falling means they are being closed.

Who is long

Binance's long/short ratios, shown as the share that is long: for its top traders by position size, and for all accounts by number of accounts.

Futures net flow

The same volume-delta measure as on spot, computed from the perpetual's own hourly candles, over 24 hours as a share of turnover.

Binance publishes open interest and the long/short ratios for the last 30 days only. Whalio has kept them since 12 October 2026, so their history starts then.

Expected move range

The one thing in this data that tested as predictive is the size of the next move, not its direction (the study). Each coin's range for the next 4 and 24 hours comes from a HAR model of realised volatility: the log of the coming period's volatility regressed on the log of the coin's realised volatility over the last day, week and month, the last day's volume against its 30-day average, and the time of day. Realised volatility is the square root of the summed squared hourly log returns of Binance spot closes.

The model was fitted on 20 large coins from 26 November 2025 to 4 May 2026 and judged on 4 May to 11 October 2026. The ranges are empirical: the 80% range is the band that 80% of returns fell inside, relative to the forecast, in the fitting period. On the unseen period it held 81.1% of the time at 24 hours and 80.1% at 4 hours; the 95% range held 95.0% and 95.6%.

Every forecast is stored as it is published, and once a day the ranges are re-scored on every tracked coin over the last 90 days and against their own published record. Both results are shown on the market readout. A range describes the closing price at the end of the window; the furthest swing along the way, shown on each coin page, is calibrated separately.

What these numbers do not tell you

The limits matter as much as the definitions, so they are stated here rather than left to be discovered.

• One exchange. Buy ratio, volume delta, CVD and the expected-move ranges come from Binance spot; the futures readings and the Huge Trades feed are Binance USDT-margined perpetuals. Options, other venues and anything traded away from an order book are not in it. A coin can be bought heavily elsewhere and look flat here.
• Taker side, not intent. Buy ratio counts which side crossed the spread, which is not the same as who wanted the position. A patient buyer resting bids shows up on the sell side of this measure.
• Gaps happen. Candles occasionally arrive late or not at all, and a small number carry no taker split — about 1.8% of the daily rows. Those are excluded from percentile ranking: a candle with no split reads as zero buying and would drag every rank above it.
• Nine months of history. Percentiles compare against roughly nine months of hourly data, not against years. A reading called unusual is unusual for that window.
• Co-occurrence, not cause. The news pages and maps put stories next to what the flow did afterwards. Markets move for many reasons at once, and nothing here isolates one story's effect from everything else happening in the same hour.
• Description, not prediction. We tested whether these readings forecast the next 1, 4 or 24 hours on 20 coins over eleven months. None did by enough to pay for the trade: the full test and its numbers.