How does GMT 700 affect cryptocurrency trading volumes?

3 answers

• Dec 17, 2021 · 3 years ago
  GMT 700, also known as Greenwich Mean Time 700, is a time zone used by some cryptocurrency exchanges. It affects trading volumes because it corresponds to the opening and closing times of these exchanges. When GMT 700 starts, it signifies the start of the trading day for these exchanges, leading to an increase in trading activity. Similarly, when GMT 700 ends, it indicates the end of the trading day, resulting in a decrease in trading volumes. This time zone plays a crucial role in determining the availability and liquidity of cryptocurrencies during specific hours.
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• Dec 17, 2021 · 3 years ago
  GMT 700 is like the opening and closing bell for cryptocurrency exchanges. It sets the stage for trading volumes by signaling the start and end of the trading day. When GMT 700 hits, it's like the floodgates open, and traders rush in to buy and sell cryptocurrencies. As the day progresses, trading volumes fluctuate based on market conditions and investor sentiment. So, GMT 700 acts as a key reference point for traders and investors to gauge the level of activity in the cryptocurrency market.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we've observed that GMT 700 does have an impact on cryptocurrency trading volumes. When GMT 700 begins, we typically see a surge in trading activity as traders from different time zones start their day. This increased activity often leads to higher trading volumes during the early hours of GMT 700. However, it's important to note that trading volumes can also be influenced by other factors such as market news, regulatory changes, and overall market sentiment. So, while GMT 700 plays a role, it's not the sole determinant of trading volumes in the cryptocurrency market.
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