Can the cryptocurrency market ever close?
There is a common belief among people that crypto markets have a set opening and closing time, but do crypto markets close?
Unlike traditional stock markets with a fixed opening and closing time, crypto markets are built differently and have their own way of functioning and conducting transactions. After all, with blockchain and smart contracts, much of the human elements are no longer needed.
Here’s a closer look at the trading hours of the cryptocurrency market.
Are the cryptocurrency markets closing?
To answer your burning question, no. crypto markets don’t close. They operate 24/7 every day and offer cryptocurrency trading throughout the year.
This is in contrast to the traditional stock market, which has stricter trading hours and is only open Monday through Friday.
Of course, there is a big caveat here. While crypto markets never close, cryptocurrency exchanges can. While they operate primarily 24/7, maintenance periods or high congestion occasionally mean that these trades pause trading on certain pairings.
This means that if Coinbase is down, for example, or the Binance app is not working, you may not be able to trade.
However, the term open and close can be used in a crypto context.
Does the cryptocurrency market close on weekends?
As mentioned above, the cryptocurrency market is functional 24 hours a day throughout the week and does not close on weekends.
The fact that crypto markets are decentralized and do not require any central means to verify transactions is one of the reasons why they operate 24/7, without interruption.
What time does the cryptocurrency market open and close?
While the cryptocurrency market does not open and close, many price trackers still display prices at opening and closing.
The opening time is at 00:00 UTC and the closing time is at 23:59 UTC. However, the market does not actually close right now. It is more of an arbitrary window used to track cryptocurrency prices, based on more traditional financial markets.
Therefore, there are no actual opening or closing times for the cryptocurrency market. Activity can vary these days depending on the number of smart traders, but there’s no way to stop this cryptocurrency market, apparently.