Unlike traditional markets, cryptocurrency markets remain open 24/7, even during public holidays. So, here's the question, "What is the best time to trade crypto?" Let's see.
What Is The Best Time To Trade Crypto?
Gas fees for transactions on Ethereum change in price based on network usage. Therefore, for traders with smaller portfolios, that can play a big role in optimizing the trading time.
In April 2022, a data scientist at Flipside Crypto said, “If we break down fees by the hour we can see fewer but larger transactions around midnight ET, and more activity around 5 pm ET, which used to be the most expensive time to transact.”
“It looks like people have been trying to be clever and transact less around the most active hours of the day. But that just made the less active hours more active and therefore more expensive,” *** said.
A heatmap from Anyblock Analytics as of October 2022 reveals that there is still a decline in transactions and therefore gas fees on weekends and that the most expensive time is when the United States gets up to trade.
Therefore, waiting for the completion of the transaction outside of the times when the US markets are open is good if you're trying to save on gas fees and your deal isn't time-sensitive.
What Is The Best Time To Trade Crypto? - Hopefully, this article can help you to get some knowledge.
