As illustrated by the meltdown of TerraUSD, that can make life difficult for crypto investors.advertisement
Over the years, that has caused some headaches for traders who might yearn for peace and quiet amidst gyrating prices. "I definitely think there are advantages to concentrating liquidity into certain time periods,” market structure expert Dave Lauer told The Block in a recent interview. “I think continuous markets, in general, are really bad because they struggle to do that."
In Mercer's view, a 24/7 market levels the playing field for market participants who don't have the sophisticated tools at their disposal to hedge positions during off-market hours. While a large investment firm may be able to do off-book trades with another large counterparty, a mom-and-pop retail trader in the US must wait until 9:30 am EST to act on her market decision.
I’d like to speak with the experts who disagree. Setting market hours means there will always be a time zone who isn’t allowed to process financial transactions during their day cycle. How does this fit into the idea that blockchain is here to support a meeting financial system?
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