Blockchain Analysis Pointed Shift in Trading Patterns in 2021

August 12, 2021

Bitcoin hash

New blockchain analysis has pinpointed a sensational shift in trading patterns this year from Asia to North America and Europe. 


By breaking down trading action on concentrated exchanges from various days and time zones, blockchain information firm Kaiko tracked down that on Coinbase, Gemini, and Kraken, the ratio between the volume of end of the week and week by week BTC/USD trading multiplied from March 2020. The average end-of-the-week bitcoin (BTC) trading volume is developing compared with the normal workday volume on the three exchanges that are more famous among users in the West. 


The ratio of the BTC/USDT pair on crypto-to-crypto exchanges like OKEx, Binance, and Huobi has stayed at around 1 in workday and end of the week volume over the past year. The three exchanges represent the force of retail investors in East Asia, especially in China. 


On the derivatives market, Kaiko saw that, on an hourly basis, trading volume for bitcoin never-ending futures contracts on Binance and FTX, the two biggest derivatives exchanges, surged around 16:00 UTC. The pinnacle trading time on the two exchanges overlaps among European and U.S. trading hours, suggesting that European Union and U.S. jurisdictions have gotten amazingly significant for worldwide crypto exchanges. Kaiko’s report also shows that while the crypto community has focused on the developing presence of institutional investors, it might have underestimated an increase in retail investors. 


Joel Kruger, cryptographic money strategist at LMAX Digital, an institutional crypto trade, stated that the trading volume in the past end of the week at LMAX Digital was up by 85% from the end of the prior week, as institutional investors followed the fervently debated $28 billion tax-reporting provision of the $1 trillion U.S. infrastructure bill.





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