Wich crypto most trading on weekend
7/13/2024 00:44am
The crypto that is most traded on weekends is Bitcoin (BTC). Here are the key points regarding Bitcoin's trading activity:
1. **Volume Proportion**: Bitcoin's weekend trading volume has declined to an all-time low of 16% this year, according to Kaiko. This is a significant decrease from the high of 28% in 2019.
2. **Trading Hours**: The launch of spot Bitcoin exchange-traded funds (ETFs) has shifted the periods when Bitcoin is traded to be more in line with the schedule of traditional equity exchanges. This has contributed to the decline in weekend trading volume, as Bitcoin ETFs follow the schedule of the traditional stock exchange they are traded on, which means no weekend trading.
3. **Market Structure**: The institutional adoption of crypto through Bitcoin ETFs has also led to drastically lower price volatility. This indicates that Bitcoin is becoming a more mature asset, with less extreme price swings.
4. **Impact on Liquidity**: The collapse of crypto-friendly banks Silicon Valley Bank and Signature Bank in March 2023 has also contributed to lower trading volume on weekends. Market makers can no longer use the banks’ 24/7 payment networks to buy and sell crypto in real time, which has reduced liquidity during weekends.
In conclusion, Bitcoin is the dominant crypto that is most traded on weekends, but its trading volume during weekends has significantly decreased due to the launch of spot Bitcoin ETFs and other market dynamics.