Coinbase Prime’s BTC volume rose to 3,035.64 BTC on Nov. 1, while the Coinbase premium remained negative and CME leveraged funds held more short than long contracts.
CryptoQuant data put its Coinbase Premium Index at -0.27% on Oct. 29, while a separate intraday reading on Nov. 2 was -0.19%. Both readings were below zero, meaning BTC was priced lower on Coinbase than on Binance. The comparison indicates a narrower gap from late October, though the discount remained.
Coinbase Prime recorded volume of 3,035.64 BTC on Nov. 1, up from 2,436.10 BTC a day earlier, CryptoQuant data showed. The venue serves institutional trading. The volume increase shows greater trading activity, but it does not reveal whether institutions ended the day with more BTC. The latest figures build on EconoTimes’ earlier coverage of the Coinbase discount and Prime volume.
Commodity Futures Trading Commission disclosures showed leveraged funds held 5,887 long CME contracts and 9,866 short contracts as of Oct. 27. The weekly series gives a lagged view of positions, so the count reflects an earlier snapshot than the Nov. 1 trading volume.
The indicators measure different parts of the market: Coinbase’s relative spot price, activity on Prime and leveraged funds’ futures positions. Taken together, they show a smaller Coinbase discount and higher Prime turnover alongside a negative premium and a short-heavy futures position.
