According to U.Today, citing CoinGlass data, between October 31 and November 15, Coinbase's spot Bitcoin Cumulative Volume Delta (CVD) registered a negative $1.08 billion, while Binance's spot CVD over the same period came in positive at $51.88 million. CVD measures the difference between aggressive buying and aggressive selling volume; a negative value indicates that selling was more active on that metric, which does not equate to net capital outflows from the platform, nor does it imply that the exchange itself was selling or solely responsible for driving down coin prices.