Crypto Market Hours: Open & Close Crypto Trading Hours / Axi AU (2024)

The global financial market closes on weekends while most traditional assets adhere to strict trading hours. Cryptocurrency is different.

As a beginner trader, it is important to be aware of the cryptocurrency market trading hours. This way, new traders can ensure that they are able to buy and sell cryptocurrencies at the right times.

Cryptocurrency markets are open 24/7, but there are some specific crypto assets that may have varying market hours. Traders need to also be aware when the trading volume is higher in the crypto trading markets.

The crypto spot market is open 24/7

While stock and bond markets typically trade from 8 AM to 5 PM, depending on the location and time zone, the cryptocurrency spot markets are always open. Even on weekends!

Regardless of the day of the week or time of the day, traders can log onto a crypto exchange or connect to a decentralised exchange and trade digital currencies and tokens.

However, if traders are interested in cryptocurrency CFDs, the 24/7 rule doesn’t necessarily apply.

Crypto CFDs allow traders to securely trade digital currencies and tokens without having to own actual cryptocurrency. For traders who prefer to use regulated financial products to trade crypto, CFDs are an excellent solution.

Below is a table detailing the opening and closing times for crypto CFD trading on Axi.

Why does it matter to trade during global market open hours when crypto is 24/7

Stock markets are open for 8 to 9 hours from Monday to Friday.

Successful cryptocurrency traders understand that even though cryptocurrency trading is open 24/7, the majority of transactions happen when global market activity is at its peak.

Cryptocurrency liquidity outside global market hours can be light, resulting in wider spreads and higher difficulty in entering and exiting large positions.

According to a report from Copper, the majority of cryptocurrency trading occurs during the week within global market hours. Interestingly, the report also stated that about 35% of transactions happen on the weekends.

What time of day is crypto most traded?

Crypto traders have long debated the best time to trade cryptocurrencies.

According to data from on-chain data provider Skew, 3 - 4 PM UTC is when cryptocurrency trading is most intense. That conclusion was made by analysing trading patterns on Coinbase and Binance exchanges in 2020.

The report states an average of $6.5 million was traded on Coinbase between 3 - 4 PM UTC for 30 days. This time corresponds to 10 - 11 AM EST.

When is the best time of day for crypto trading?

Generally speaking, the best time to trade crypto is when global market trading activity is the highest. That means when the US market opens, which is the afternoon European time.

Data from Skew confirms this notion, having found that 10 AM to 11 AM Eastern Standard Time is the most active period on Coinbase, a leading global crypto exchange.

When is the most volatile time for cryptocurrency?

According to an analysis conducted by Forbes, the most volatile periods for several cryptocurrencies pointed to Wednesday at 4 PM UTC. The study focused on four leading crypto exchanges: Coinbase, Gemini, Kraken, and Binance.

4 PM UTC corresponds to midday in the US, which is just shy of noon when stock market trading activity is heavy.

Conversely, the least volatile period is on Monday 8 AM - 10 AM UTC. This makes sense when traders consider that markets are yet to open in the US after the weekend, and the US is one of the largest crypto trading hubs.

Does the crypto market ever close?

Crypto trading is open 24/7 on all reputable cryptocurrency exchanges.

However, as mentioned earlier crypto CFD trading on Axi is not strictly 7 days a week. Some crypto assets trade 5 days from Monday to Friday, while others are open the entire week.

A crypto exchange may temporarily halt trading for platform maintenance. In other instances, an exchange may suffer a serious security breach, which may force the company to suspend trading and work on securing user funds.

However, in both these cases, the global crypto markets continue to trade as there will always be an exchange open for trading.

Can traders trade crypto on the weekend?

Yes!

Crypto trades 24/7, even on weekends.

Interestingly, with the entry of institutional investors and hedge funds and the increased use of algorithmic trading, we can regularly witness over 10%+ price surges on weekends. The reason for that is that liquidity is thinner on weekends so a big buyer or seller can move the needle more than during weekday trading hours.

At the same time, more and more retail traders are making use of their free time on weekends to buy and sell crypto.

While spreads between bid and ask prices at major crypto exchanges widen over the weekend, traders can still buy and sell as many cryptocurrencies as they want.

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This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.

Alex Lielacher