When do crypto markets open and close?

Publish Date 14 Apr 2022
Blockchain / 4 Min Read
Alex Lielacher / Last Update 14 Apr 2022

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 8pm 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 allows 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.

Market description

Symbol

Trading hours

Cardano vs US Dollar

ADAUSD

00.05 Monday to 23.59 Friday (MT4 server)

Bitcoin Cash vs US Dollar

BHCUSD

00.05 Monday to 23:59 Sunday (MT4 server)

Bitcoin vs US Dollar

BTCUSD

00.05 Monday to 23:59 Sunday (MT4 server)

Dogecoin vs US Dollar

DOGEUSD

00.05 Monday to 23:59 Friday (MT4 server)

Polkadot vs US Dollar

DOTUSD

00.05 Monday to 23:59 Friday (MT4 server)

EOS vs US Dollar

EOSUSD

00.05 Monday to 23:59 Friday (MT4 server)

Ethereum vs US Dollar

ETHUSD

00.05 Monday to 23:59 Sunday (MT4 server)

Chainlink vs US Dollar

LINKUSD

00.05 Monday to 23:59 Friday (MT4 server)

Litecoin vs US Dollar

LTCUSD

00.05 Monday to 23:59 Sunday (MT4 server)

Stellar Lumen vs US Dollar

XLMUSD

00.05 Monday to 23:59 Friday (MT4 server)

Ripple vs US Dollar

XRPUSD

00.05 Monday to 23:59 Friday (MT4 server)

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 of 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. 

Recommended reading: Best performing cryptocurrencies

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 exchange 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 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 being 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 much cryptocurrency as they want.

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We hope that this guide on the crypto market trading hours helps traders understand how the market works. Keep up to date on evolving blockchain trends here!



Alex Lielacher

Cryptocurrency Content Contributor

Alex Lielacher is a ‘banker-turned-bitcoiner’ who exchanged the bond trading desk for a laptop in a co-working space to provide engaging and educational content for leading companies in the blockchain technology space.

 

 

The 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. Readers should seek their own advice. Reproduction or redistribution of this information is not permitted.

Cryptocurrencies (such as Bitcoin) are extremely volatile and can move or jump in price with no apparent reason due to lack of liquidity and ad hoc news. There is little or no fundamental reasoning behind its pricing and as such trading CFDs in cryptocurrencies poses a significant risk to clients. For any Cryptocurrency CFDs that we limit to Monday – Friday trading, it is important to note that the underlying market will continue to trade over the weekend, meaning there could be a significant price change between Close of Business on Friday and open for business on Monday. Therefore, these symbols should be traded by clients with sufficient experience to  understand that, subject to negative balance protection (where available), they risk losing all their investment, or more, in a  short period of  time, and only a very  small part of their portfolio should be allocated.


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