Does Time of Day Affect Price?

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    Introduction

    Crypto does not follow a 9-5 schedule, but it does not mean that in all times crypto market remains constant. Time zone influences crypto market significantly.

    This dashboard investigates the impact of time zone on the price of the top 10 ASAs in terms of volume of swaps.

    Analaysis

    The graph below shows the number of swaps of top 10 ASAs.

    We can see that ALGO has had the highest volume of swap since 30 days ago.

    note: only swaps to the ASAs have been included.

    To examine the effect of hours (time zone) on the price of top 10 ASAs, first the daily average price of a day for each ASA has been calculated.

    Then the deviation of the hour price from the daily average has been calculated.

    The graph below shows the average deviation per hour per assets for 30 days and 10 assets.

    We can see that the early days the price is higher than the late day.

    However, this pattern is highly influenced by the overall market situation which was bearish in the past month.

    We had a declining trend in terms of time in any interval.

    However, by zooming in on single tokens such as Xfinite or choicecoin we can see that the price between 22.00 and 4.00 is at the highest level.