Exchange quote and base volume – Is the total volume shared?

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I’m currently trying to figure out if the volume of a pair/ticker etc Bitcoin/Tether should be credited to the base in the pair or both the base and the quote (50%/50%)

I thought that the volume was credited to the base only, but when I look at my data I see no volume on USDT because it is always the quote like:

  1. base BTC/USDT quote
  2. base ETH/USDT quote
  3. base BNB/USDT quote
  4. base ADA/USDT quote

This is how a mapped response looks like for BTCUSDT ticker from Binance’s API

array:9 [
  "name" => "BTCUSDT"
  "ticker" => "BTCUSDT"
  "open" => "60523.47000000"
  "close" => "60525.47000000"
  "high" => "63388.99000000"
  "low" => "59510.63000000"
  "volume" => "38548.16285000"
  "change" => "4.296"
]

As we can see the volume is 38548, which is 38548 Bitcoin which when converted to USD is ca $2.400.000 (2.4million)

Would these 2.4million be divided by 2 and credited to both the quote and the base?

Hope someone can help me out here with the correct solution



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