COIN· Coinbase

Dark pool · off-exchange short volume

as of 2026-11-05

COIN's off-exchange short-volume ratio was 47.3% on 5 Nov 2026, below its 20-day average of 50.1%. Off-exchange trading was 41% of volume over the last 20 sessions. 9 sessions in the last six months had unusually large off-exchange dollar volume, the latest on 21 Sep 2026.

Short ratio (latest)

47.3%

20-day average

50.1%

Off-exchange share (20d)

41%

Darkpool density

big day, short ratio above trendbelow trendbubble size = how unusual ($vol z-score)

Last ~6 months. Bubbles mark days of unusually large off-exchange dollar volume (≥1.5σ vs the trailing 60 days). Daily resolution — not print-level data.

Darkpool levels ±15% of spot, since 2018-10-01

172.71

15.3B

169.68

13.9B

166.65

14.9B

163.62

13.5B

160.59

11.3B

157.56

8.66B

154.53

8.14B

151.50

9.71B

148.47

8.67B

145.44

5.62B

142.41

5.07B

139.38

4.25B

136.35

2.81B

133.32

2.74B

130.29

3.39B

Historical off-exchange $ volume at price: each day's volume spread across that day's range, summed over the full FINRA history. Heavy shelves often act as support/resistance magnets. Amber row = spot's bin.

Off-exchange short-volume ratio

short ratio (20d, right) daily off-exchange share (left)

FINRA daily TRF data, last 2 years. A persistently HIGH short ratio is mostly passive market-maker liquidity provision (commonly read as accumulation pressure) — not naively bearish.