Key Takeaways
The latest traded price is the most recent transaction price for an asset, reflecting its current market value.
Unlike Open, Close, or Market prices, which show specific points or ranges, the latest traded price gives an instant snapshot of market demand based on the last trade.
Different types of APIs, like REST API, WebSocket streams, and WebSocket APIs, offer various ways to retrieve a symbol's latest price.
Introduction
In the fast-paced world of trading, staying updated with the latest prices of assets is essential for making informed decisions. Market actors rely on different metrics to monitor price movements, including the most recent prices available for a specific asset or traded pair. These prices can be obtained through various ticker endpoints, offering different perspectives on the market.
This article examines the latest traded price, how the latest traded price differs from other price types, and ways to access the latest spot prices on Binance through various APIs.
What Is the Latest Traded Price?
The latest traded price refers to the most recent price at which a financial asset—such as a stock, cryptocurrency, or commodity—has been bought or sold on an exchange. This price reflects the latest transaction made between a buyer and a seller, updating dynamically as new trades occur. It provides an up-to-date indication of the asset's market value.
For example, the latest traded price of the BNBUSDT symbol reflects the most recent trade of BNB bought or sold at a specific amount and price in USDT.
How the Latest Traded Price Differs from Other Price Types
Markets provide several types of price data, each with distinct importance:
Open Price: refers to the price at which an asset first trades within a specific interval. It serves as a key indicator of the initial traded sentiment and potential direction for the day.
Close Price: The final price at which an asset is traded at the end of the specified interval. Often used as a benchmark, the close price is important for assessing daily performance and comparing trends over time.
High and Low Price: These refer to the highest and lowest prices reached by an asset during a specific period (e.g., day, week). They reflect the range of an asset’s value fluctuations within that time frame, helping to highlight periods of high or low volatility.
Market Price (Book Ticker): refers to the current price at which a particular asset is being traded on the open market. It reflects the price where buy orders (bids) and sell orders (asks) meet. It’s essentially the price at which the most recent transaction occurred in the order book. For more information on market price, check Bid-Ask Spread.
The latest traded price stands out from other price types by providing a real-time snapshot of an asset's market value based on the most recent transaction. Unlike the open, close, high, and low prices—which capture specific moments or ranges within a trading period—the latest traded price continuously updates with each new trade. This immediacy helps traders and investors assess current demand and make timely decisions, whereas other price types offer historical context or show the range of price fluctuations. For asset holders, the latest price offers a clear view of their holdings’ current value.
How to Get the Latest Spot Traded Price With Different Types of API
REST API
There are several types of tickers that can be used to retrieve the latest price of symbols with REST API. These tickers offer different levels of information, from a single-field response displaying only the latest last price to a multi-field response with additional information.
Price Ticker
The Price Ticker is designed to return the most recent price for one or more symbols. It is the simplest and most direct way to obtain the latest price of an asset.
How to Use
The user can specify a single symbol or multiple symbols in the request, or even omit parameters to get the latest price for all available symbols.
Example
The following example demonstrates the process of sending a request and retrieving the information:
Python snippet
from binance.spot import Spot
client = Spot()
# Get Latest Price of BNBUSDT
print(client.ticker_price("BNBUSDT"))WebSocket Stream
The WebSocket Stream protocol offers various ways to retrieve the latest price, such as through the trade stream.
Trade Stream
Trade streams provide information on the most recent trade, including the price, quantity, and symbol. It is also possible to determine whether the trade was initiated by the buyer or the seller.
How to Use
The user needs to specify the symbol for which they want to retrieve trade information.
Example
The following example demonstrates the process of sending a request and retrieving the information:
Python snippet
import time
from binance.websocket.spot.websocket_stream import SpotWebsocketStreamClient
def message_handler(_, message):
logging.info(message)
my_client = SpotWebsocketStreamClient(on_message=message_handler)
# Get Latest Trade of BNBUSDT
my_client.trade(symbol="BNBUSDT")
time.sleep(10)
my_client.stop()WebSocket API
WebSocket APIs provide the latest price of symbols in various ways, such as through the current average price.
Current Average Price
The current average price websocket API endpoint represents the average price of a symbol over a 5-minute interval.
How to Use
The user only needs to specify the symbol from which they want to retrieve the trades.
Example
The following example demonstrates the process of sending a request and retrieving the information:
Python snippet
import logging
import time
from binance.websocket.spot.websocket_api import SpotWebsocketAPIClient
def message_handler(_, message):
logging.info(message)
my_client = SpotWebsocketAPIClient(on_message=message_handler)
# Get Latest Average Price of BNBUSDT
my_client.avg_price(symbol="BNBBUSDT")
time.sleep(2)
my_client.stop()Closing Thoughts
Staying informed about the latest traded prices is essential for making well-timed trading decisions. The latest traded price, which reflects the most recent transaction of an asset or symbol, serves as a key reference point for evaluating market conditions. It provides an immediate snapshot of an asset's market value, which is crucial for traders looking to make quick, informed decisions in a dynamic market.
Understanding why the latest traded price differs from other price types—such as the open, close, high, and low prices—further enhances decision-making. Each price type provides different insights, with the latest traded price offering the most up-to-date reflection of market sentiment.
Finally, there are various ways to access the latest traded price, including through different API types like REST and WebSocket. These APIs offer real-time data that can be used to track spot prices, giving traders the tools they need to react quickly to price changes. Understanding how to use these APIs effectively can help traders stay ahead of market trends and make more informed trading decisions.
Further Reading
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