Relative Volume compares the current trading volume to the average volume over a 30-day period. It is calculated by dividing the current volume by the 30-day average volume, indicating whether current trading activity is above or below historical norms. Values above 1.0 indicate higher-than-average volume, while values below 1.0 suggest lower-than-average activity. This metric helps identify unusual trading activity and potential significant market events.

This metric tracks relative volume for spot trades where USD or USD-related currencies serve as the quote, and can be viewed per exchange or aggregated across exchanges.