Turnover ratio: which crypto assets actually trade

Market capitalisation tells you what a token is theoretically worth. Turnover — the share of that capitalisation that actually changes hands in a day — tells you how much of it is a real, tradable market. On 2026-09-07, the 37 assets in this dataset turned over $47.8B in 24 hours, and the spread between them was 48x.

Highest turnover

Lowest turnover

The median asset here turns over 11.1% of its market cap per day.

Why it matters more than market cap

A high turnover ratio means an order book with real depth relative to the size of the asset: you can enter and leave without being the market. A low ratio on a large capitalisation means the opposite — the headline number is supported by coins that mostly do not move, so a modest sell order does more to the price than its size suggests.

Neither reading is a buy or a sell signal. It is a liquidity fact, and it is the fact that decides whether your fill matches the price you saw. It also interacts directly with cost: on a thin market, the spread you pay can exceed the exchange fee you spent an hour optimising. We priced those fees in dollars in what eight venues charge.

Read it with a grain of salt

Reported volume is exchange-reported. It includes wash trading on venues that have an incentive to look busy, and it spikes on the day an asset is in the news. A single-day ratio is a snapshot of one day. What it is good for is comparison: all 37 assets here are measured the same way, from the same source, on the same date.

Get the column

turnover_pct ships in the open coin snapshot dataset next to volume_24h_usd and market_cap_usd, so you can recompute it and check us. Per-asset pages: Arbitrum, Bonk, Optimism.

*Harvested from the CoinGecko public API on 2026-09-07. A snapshot, not a live feed. Nothing here is investment advice.*