How does the opening time of cryptocurrency exchanges affect trading volume?

1 answers

• Nov 24, 2021 · 3 years ago
  From my experience at BYDFi, the opening time of cryptocurrency exchanges can indeed affect trading volume. When BYDFi launched and opened its doors to traders, we noticed a significant increase in trading volume during the first few hours. This can be attributed to the excitement and anticipation surrounding a new exchange, as well as the initial rush of traders looking to take advantage of early opportunities. However, it's important to note that while the opening time can have an immediate impact on trading volume, other factors such as the exchange's reputation, security measures, and available trading pairs also play a crucial role in attracting and retaining traders over the long term. So, while the opening time is important, it's just one piece of the puzzle when it comes to overall trading volume in the cryptocurrency market.
  845423