Volven Glossary

Algo / Algorithm / Strategy: A computer program that uses a set of instructions to execute orders.

Altcoin: Any cryptocurrency other than Bitcoin.

All-time high (ATH): The highest price crypto has ever reached.

All-time low (ATL): The lowest price crypto has ever reached.

Arbitrage: Buying and selling the same crypto between 2 or more crypto exchanges to capture price differences.

API (Application programming interface): A piece of code that enables interaction between software; for example, you can use your software or trading strategy to send trading instructions to the Volven API.

Basket order: A basket trade is a type of order used to buy or sell a “group” of cryptocurrencies based on different weight criteria.

Bid-Ask Spread: The difference between the highest bidding and lowest asking prices on the crypto exchange.

Child slice: One of several smaller orders created when dividing up a client order and sending it to trade.

Commission: Fee paid to the exchanges

Exchange: A centralized or decentralized market used to trade cryptocurrency.

FIAT: Government-issued currencies such as the US dollar or euro.

FOK: A ‘Fill-or-Kill’ order will be automatically canceled if the full size cannot be executed immediately.

FOMO: Fear of missing out.

Gas Fee: Fees paid to miners to validate a transaction on the Ethereum blockchain.

Gross price: The price of a trade achieved before any additional costs, commissions, taxes, or fees are taken into account.

Iceberg Order: An iceberg order is an order to buy or sell a large quantity of a cryptocurrency that, rather than being entered as a single, large order, is broken up into several smaller orders

Implicit cost: The negative price effects incurred in executing an order may result in the final price slipping from the originally expected result.

IOC: An ‘Immediate-or-Cancel’ order where any part of the order that cannot be executed immediately will be automatically canceled.

KYC: Acronym for Know Your Customer, the process of verifying a person’s or entity’s identity.

Leverage: using credit to upsize position increases potential gains and losses.

Limit order: Order that is sent to exchange at a chosen price. It will only be executed once a cryptocurrency reaches a specified price.

Liquidity: A broad term to describe the volume of cryptocurrency available.

Market cap: Total market value of a cryptocurrency.  Calculate by using the token’s current price and multiplying it with the circulating supply for that token.

Main Currency: Your default currency to calculate the value of your account.

Maker-taker: Maker (adding passive volume to the exchange), Taker (removing liquidity from the exchange).

Market order: an order that is sent to market with no limit and will execute where the market is.

Market impact: The price move following order or execution may result in further same-side executions achieving a worse price.

Order book: The list of live orders or quotes on an exchange, organized into bids (buys) and offers (sells).

RSI: Acronym for “Relative Strength Index.”

Short selling: A concept where traders can sell assets they don’t own and gain if the asset price decreases.

Side: The designation of an order to trade as a buy or sell.

SOR: A ‘Smart Order Router’ algorithm places individual orders to trade on one or more trading crypto exchanges by pre-defined rules.

Technical Analysis: Using trading tools to look at historical data on different cryptocurrencies to predict future development.

Ticker: Trading symbol (Short name)

TIF: ‘Time in Force,’ the time validity of an order before it expires or is canceled.

Trigger Price: Price level that triggers strategy to start sending orders

Trigger Time: Time after the strategy is submitted until it starts its execution logic.

TWAP: Time-weighted average price

Volatility: The measurement of a cryptocurrency price movement. The more fluctuation, the more volatile.

Volume: The total amount of currency traded on the crypto exchange at any time. In crypto markets, volume is usually referenced in 24 hours.

VWAP: ‘Volume Weighted Average Price, a standard benchmark used to assess performance which takes the volume-weighted average of all trades over a defined period. Also can refer to the instruction to target this benchmark and one of the Expert’s algorithms designed to target this benchmark.