Exchange volumes suggest decreased interest from Asian investors

Exchange trade volumes remain suppressed from this year's highs in June, and by looking at the hourly trade volumes, the data would suggest a fall-off in interest from Asian investors. Over the past few months, there has been a notable pull-back in activity during the working hours in Asia (12 a.m. and 5 a.m. UTC).

We took the aggregate monthly trade volume of the 10 vetted exchanges by Bitwise and categorized it by the time of day. As shown below, the most active trading hours have generally been between 3 p.m. to 5 p.m. UTC, coinciding with the working hours for those in Europe and U.S. East.