Definition
#Total traded notional for the previous UTC day (00:00–24:00 UTC). Used as a baseline for what is normal.
Formula & calculation
#Sum of executed trade notional from yesterday 00:00 UTC to 24:00 UTC:
Σ(price × size)Units & range
$ (quote currency notionals). Non-negative, unbounded.
Interpretation
#By itself it tells you nothing. It's only meaningful as the denominator of Relative Volume vs Yesterday. A day with abnormal conditions (news, liquidations, forced selling) will distort the baseline, so don't treat yesterday as ground truth.
Practical usage
#Pair with Today Volume Notional when you need a full prior day as context. Not a signal on its own: it's the denominator for Relative Volume vs Yesterday.
Common mistakes
#Frequent interpretation traps and misuse patterns to avoid when applying this metric.
- Comparing a partial current day directly against a full prior day without time normalization.
- Assuming yesterday was representative when it may have been distorted by unusual conditions.