Recent data from the digital assets data provider, Kaiko, has revealed that the average trading weekend volumes in the crypto market have dropped by 10%, while the weekday volumes have risen by 16%. The decline in weekend trading volumes is attributed to the closure of Silvergate Exchange Network (SEN) and the Signet payment gateways for crypto firms.

The closure of these payment gateways forced market-makers to rely on traditional payment routes that are mostly closed on weekends, resulting in a shift of crypto trading volumes to the workdays. The trend of reduced crypto trading on weekends is contrary to the industry's previous 24/7 routine.

Binance, the largest crypto exchange platform, also saw a 20% increase in its market share after introducing zero-fee trading on several pairs in 2022, however those trades were eventually stopped in March 2023. This resulted in a sharp drop in daily Bitcoin trading volume.

John Hancock Investment Management co-chief investment strategist, Matt Miskin, noted that liquidity is a crucial factor in determining the strength of crypto due to markets like this being heavily reliant on liquidity. Noelle Acheson, the author of the “Crypto Is Macro Now” newsletter, however said that despite the volumes being lower than usual, they are still relatively high, showing that crypto is still gaining momentum even on weekends.



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