Crypto Loses Some of 24/7 Luster as Weekday Trading Sees Uptick

One of crypto’s focal characteristics is that it trades around the clock, every day of the year. Now the market is, due to a number of recent shifts in the industry, becoming much more focused on a Monday-through-Friday routine.

Thanks to the closure of Silvergate Capital Corp.’s Silvergate Exchange Network, as well as the shuttering of Signet — the real-time payments network for crypto companies operated by the now-failed Signature Bank — markets have become “less 24/7,” according to researcher Kaiko. Average daily weekend volumes have dropped by 10%, while the weekday measure has risen by 16%.