Traditional Finance Users Flock to Crypto Exchanges Amid Trading Hour Concerns

A recent report from MEXC, a leading cryptocurrency exchange, reveals that traditional finance users are increasingly shifting their trading activity to crypto exchanges. According to the report, titled 'The Next-Generation Investor: Behavioral Migration from Traditional Finance to Crypto Exchanges', 74.2% of surveyed users with a traditional finance background have moved some or all of their traditional asset trading activities to crypto exchanges.

The survey collected 6,185 responses across 13 languages and found that among users who had previously invested through brokerages or retail banks, the migration rate stood at 73.8%. This trend is not limited to any specific investment channel, with 77.8% of users who have previously invested through commodity ETFs also making the switch.

The report highlights two main drivers behind user migration: trading hours and fees. Respondents cited limited trading hours (58.8%) and high fees (54.7%) as their primary concerns when using traditional brokerages, which aligns with their reasons for switching to crypto exchanges, 24/7 market access (64.7%) and more competitive fees (53.8%).

Furthermore, the report shows that nearly 70% of users have missed trading opportunities due to market closures, leading them to position themselves ahead of market openings using crypto exchange futures.