Financial asset trading firms around the world do not operate at the same time due to different time zones. However, the cryptocurrency market is open non-stop all year long. Crypto trade volume dips and soars as people trade within different time zones as huge global market opportunities present themselves.
UTC time (Coordinated Universal Time) simply refers to the world’s time standard as using standardized timing makes it easier to communicate time among various crypto communities.
How does time zone affect the cryptocurrency market?
Trading activities increase with the opening of exchanges in some major countries, which sometimes leads to increased volatility in asset prices. When market times across two major countries overlap, this period increases the market volatility.
This does not affect the cryptocurrency space as exchanges are opened in a 24-hour time fashion.