Kaiko Reports Historic Low in Weekend Bitcoin Trading Volume

The volume of bitcoin trading over the weekend has fallen to its lowest level on record.

Where did all the weekend #crypto traders go?

The share of #BTC traded on weekends has declined significantly over the past six years.

So far in 2024, just 13% of all transactions were executed over the weekend. pic.twitter.com/t35PZbtsMk

— Kaiko (@KaikoData) February 27, 2024

“So far in 2024, just 13% of all transactions were executed over the weekend,” noted Kaiko researchers.

Trading volumes have decreased on both American and “offshore” exchanges. This downward trend has persisted for six years.

#BTC weekend trading has declined on both offshore and U.S.-available exchanges during the crypto bear market. pic.twitter.com/nbxRH5yRWW

— Kaiko (@KaikoData) February 27, 2024

In 2018, the share of weekend trading in the total turnover was 24%. This figure has now nearly halved.

Check out our full analysis here: https://t.co/OSI1qosWyE

— Kaiko (@KaikoData) February 27, 2024

“The decline suggests a deterioration in weekend liquidity metrics and may be attributed to both increased institutional participation and a weakening of market infrastructure,” states the report.

However, analysts noted an improvement in liquidity metrics following the launch of spot bitcoin ETFs, as “market makers increased positions on American platforms.” Yet, since exchange-traded funds operate from Monday to Friday, “the gap between weekends and weekdays could widen further” as new products “gain traction and alter market structure.”

As reported, the daily trading volume of spot bitcoin ETFs reached a record $2.4 billion.