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How does hodl contribute to the value of digital currencies?

avatarAMAR PRASADDec 25, 2021 · 3 years ago1 answers

What is the impact of hodling on the value of digital currencies?

How does hodl contribute to the value of digital currencies?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    At BYDFi, we believe that hodling is an important factor in the value of digital currencies. When investors hold onto their coins instead of selling them, it reduces the available supply in the market. This scarcity can increase demand and drive up the price of the currency. Additionally, hodling can create a sense of trust and confidence in the market, as it shows that investors believe in the long-term potential of the currency. This belief can attract more buyers and contribute to the overall value of digital currencies.