Definition. Spot Relative Volume (30D) is current spot trading volume divided by the trailing 30-day average volume, expressing current activity relative to its recent norm.

Technical. Computed for spot trades where USD or USD-related currencies serve as the quote. Available per individual exchange or aggregated across exchanges.

Interpretation. Values above 1.0 indicate higher-than-average volume, values below 1.0 indicate lower-than-average activity. Sharp deviations from 1.0 surface unusual trading activity and often coincide with significant market events.