Daily USD spot trading volume for Zcash, stacked by exchange. Use the Daily/Weekly/Monthly chips to change the aggregation, and Major/All to switch between the top venues and every exchange we track (venues beyond the top 12 are folded into “Other”).
To avoid misleading dips, only the date range where every tracked exchange’s history is fully backfilled is shown — while backfilling, the chart says “collecting”. Source: each exchange’s own public candles API — the venue’s own record of its own trades, not an aggregator’s estimate.
Every number here comes from an exchange describing its own activity. Unlike anything derived from the chain, none of it is verifiable, and the incentive to overstate is well documented across the industry. Read the shape and the order of magnitude; do not read a twenty-percent difference between two venues as real.
Spot, not derivatives. The perp volume chart is a different market with its own reporting, and the two are not additive.
The stack is the useful part. Which venues carry Zcash, and how concentrated that is, survives the reporting problem better than the total does: an exchange has an incentive to overstate its volume and none to invent the fact that it lists ZEC at all.
Venues beyond the top twelve are folded into one band, so “other” growing is the long tail thickening rather than one new exchange.