Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 4, 2023 erstellt
Beschreibung:
We study intraday patterns of returns, trading activity, volatility and illiquidity in cryptocurrency markets. We analyze intraday data from 1,940 trading pairs traded on 38 centralized exchanges around the globe and show that there are pronounced intraday patterns. These patterns are similar across the variables under consideration, across trading venues, and across currency pairs. Characteristics of the trading venues (such as their location) and the traded currency pairs explain some, but not all of the commonality in intraday patterns