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77%+ of people got this wrong. Actual answer: none of the above. Don’t feel bad though, even professional investors writing 9-figure checks don’t get it. For the record, one guy with 2 accounts and 0 fees can generate infinite volume. Vol share is as useful as office space share.

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Jesse Powell

@jespow

· Dec 3, 2021

If you know an exchange's share of volume, you know an exchange's share of...

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9:38 PM · Dec 4, 2021Twitter for iPhone

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@thatzenboi

Dec 4, 2021

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@jespow

Wait so trading volume does not mean the total amount of market orders filled? And kraken definitely has fees, so I don't understand this argument still? Mind you explain?

Jesse Powell

@jespow

Dec 4, 2021

Volume means the quantity of the asset traded, not the number of orders filled (which is equally meaningless). Since we don't know the fees/rebates/incentives of each trader at each venue, it's comparing apples and oranges. Not all volume is equal.

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People are gambling on bitcoin. I'm not surprised that they couldn't answer this question. We don't have any meaningful financial education at school - that's the salt.