cryptofamily

The United States has regained its relevance in the crypto sector after Asia claimed the lead for much of 2023. The region was a “major beneficiary” of the outgoing Biden administration’s tough measures, which Donald Trump, who promised to make America the “crypto capital” of the world, intends to reverse. 

Several factors indicate that crypto market activity is now concentrated in the United States. These include data on the time of day when cryptocurrency trading is most active, exchange-traded fund (ETF) trading volumes, interest in crypto futures in the United States, and the restoration of market depth. 

The share of daily bitcoin/dollar trades during U.S. exchange hours has risen to about 53% from 40% in 2021. Bloomberg’s sources note that the shift in “liquidity dominance” toward America has been driven by the growing participation of institutional players. 

The chart shows the periods of activity in cryptocurrency trading in dollar pairs by time in the period from 2021 to 2024.