Coin Metrics has found European and U.S. business hours is a hotspot for crypto investment on the Bitcoin Network.
It’s understood U.S. investors use the services in the morning hours, while Europe waits for later in the day.
Analysts are reporting a drop in the share of activity happening during Asian hours.
It seems like the use of Bitcoin in Asian markets fell around a year ago, which coincides with China’s crack downs on crypto mining.
The figures looked at when changes to wallets took place, before they were segmented based on the opening hours of various global exchanges.
Coin Metrics looked specifically at the Hong Kong Stock Exchange, London Stock Exchange, and the New York Stock Exchange.
Analysts also looked at Ethereum data, which is less clear than Bitcoin. However, the company believes Ethereum trading also tends to occur during U.S. waking hours.
