Binance quote asset volume
This refers to the volume in the rear part of the trading pair. For example, where BTC/ USDT is the depicted pair, USDT is the quote asset volume.
Breaking things down a bit, the second part of the pair also known as the base pair is the amount in USDT/BTC/ETH paid by the buyer which is solely based on the market.
On the other hand, volume is the total amount involved in the transaction. As such, quote asset volume equates to the amount placed on open orders in the order trail in regards to the two currencies.