Key takeaways
AI-related earnings news is arriving outside U.S. market hours this week. Binance’s 24/7 markets let users take action instead of waiting for the next market open.
Price movements after the market closes can be large and happen quickly. CSCOUSDT and COHRUSDT both saw post-earnings volatility on Binance while the U.S. stock market was closed. Related bStocks tickers (CRWVB, SMCIB, and LITEB) also moved after the results were announced.
Early price data suggests that bStocks prices formed while U.S. markets are closed tend to track the price level when the underlying asset reopens. Across 7 weekends (June 12 to July 27), weekend prices reflected a median 92% of the Monday opening price gap, with a median residual deviation of 0.19%.
The NYSE closes at 16:00 on Friday, but the world keeps moving. News continues to break, whether or not there is a platform to price it. For decades, traders have had to deal with this gap. They had to wait until the market opened at 09:30 on Monday to absorb everything that happened over the weekend.
With Binance, waiting is optional. We looked at the data to see what happens when traders don’t have to wait—when they can act on market opportunities at any time. This week offered a clear test case, as the most closely watched theme in global equities reported earnings almost entirely outside trading hours.
The Week AI Stocks Traded While Wall Street Was Closed
The AI ecosystem—including demand-side companies, computing capacity providers, server builders, and upstream optical and networking component suppliers—reported earnings this week. All of these major events took place after markets closed.
Cisco and Coherent both reported earnings at 16:05 ET on August 12, five minutes after the market closed. But traders on Binance TradFi Perps still had access to the market for another 5.5 hours. CSCOUSDT rose 7.2% before reversing to fall 12.1%. COHRUSDT rose 4.9% and then fell 11.4%.
Both tickers closed just below their previous closing prices before the next opening bell. The entire move—from initial excitement to a full reversal—played out during a period when users on traditional platforms could only wait.
On bStocks, other AI infrastructure companies—including CRWV, SMCI, and LITE—reported earnings after U.S. markets closed on August 11. By 18:00, CRWVB was up 13.3%, SMCIB was up 5.7%, and LITEB had completed a full round trip, falling 4.4% before recovering.
24/7 Markets on Binance
This week showed how Binance’s 24/7 market provides something traditional platforms cannot: continuous access.
On July 28, bStocks surpassed $500 million in AUM. At the time of writing, it was the fastest-growing tokenized securities product since its launch in June and accounted for around 27% of the tokenized equity market capitalization. Notably, most trading activity took place while markets were closed. In July, U.S. market closure hours accounted for 62% of bStocks volume on Binance, and 58% since launch. Around $1.5 billion in value was traded on Binance while the NYSE was closed.
Volume figures show demand for market access while the underlying market is closed. Impressive as they are, a market can still be active while pricing assets inaccurately.
So perhaps the more important question is whether the prices at which users traded bStocks held up when the underlying market reopened. To test this, we compared weekend prices with Monday opening prices. If the bStocks market was genuinely identifying the fair price of an asset, the two prices should be similar. If it was just noise, they would not be.
What Monday’s Opening Prices Reveal
We took the bStocks price at the end of the weekend, compared it with the underlying asset’s Monday opening price, and measured how much of the price gap had been anticipated by the weekend price.
Figure 1: Percentage of the Monday price gap reflected in bStocks weekend prices. Source: Binance Research, as of July 28.
Across the 7 weekends from June 12 to July 27, on-chain prices reflected a median 92% of the Monday price gap, leaving a median residual deviation of 0.19% when markets reopened. This means the underlying stock prices moved relatively little after traditional markets opened.
For larger moves—price gaps greater than 3%—all 41 of the 41 observed cases correctly identified the direction. Weekend prices reflected a median 99.6% of the price gap.
Figure 2: Directional accuracy of bStocks weekend prices by size of the Monday opening price gap. Source: Binance Research, as of July 28.
What makes this pattern harder to dismiss is that accuracy increased with the size of the move. For the smallest weekend moves, below 0.5%, on-chain prices identified the correct direction around 81% of the time. This rose to around 90% for moves between 0.5% and 1%, and around 97% for moves between 1% and 3%, before nearing full reflection for the largest price gaps.
If weekend prices were the result of random guessing, accuracy would fluctuate unpredictably. Instead, the data shows accuracy rising steadily as the size of the move increases.
Conclusion
The period we measured covered just 7 weekends. This period is short enough that a run of news-driven Sundays could exaggerate the trend. A larger sample would show how consistently bStocks weekend prices lead moves that are then confirmed during the day on Monday.
The early data points to positive signs. Within this small sample, and with the caveat noted above, the data suggests a market forming a realistic view of stock prices while Wall Street rests.
Even in this small dataset, the results suggest that bStocks markets are contributing to price discovery while U.S. stock exchanges are closed. This week’s after-hours AI earnings reports are a practical example. News broke outside U.S. cash trading hours, and Binance users could express their views in real time.
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