How does Chimes determine the end of the day in the cryptocurrency industry?

3 answers

• Feb 18, 2022 · 3 years ago
  Chimes determines the end of the day in the cryptocurrency industry based on the UTC (Coordinated Universal Time) timezone. They use this standard time to ensure consistency and accuracy across different time zones. This helps in avoiding any confusion or discrepancies when it comes to determining the end of the day for various cryptocurrencies.
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• Feb 18, 2022 · 3 years ago
  When it comes to determining the end of the day in the cryptocurrency industry, Chimes follows a standardized approach. They consider the closing time of major cryptocurrency exchanges around the world, such as Binance, Coinbase, and Bitstamp. By taking into account the closing times of these exchanges, Chimes ensures that the end of the day is aligned with the majority of the market activity.
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• Feb 18, 2022 · 3 years ago
  In the cryptocurrency industry, Chimes relies on a third-party data provider to determine the end of the day. This data provider collects and aggregates information from various exchanges and calculates the weighted average closing price of cryptocurrencies. Chimes then uses this closing price as a reference point to determine the end of the day. It's important to note that Chimes values transparency and accuracy in their determination of the end of the day, which is why they rely on trusted data sources.
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