How does LME affect cryptocurrency prices?

3 answers

• Dec 26, 2021 · 3 years ago
  The London Metal Exchange (LME) does not directly affect cryptocurrency prices. LME is a market for trading base metals such as copper, aluminum, and zinc. Cryptocurrencies, on the other hand, are digital assets that are not traded on the LME. Therefore, the LME does not have a direct impact on cryptocurrency prices.
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• Dec 26, 2021 · 3 years ago
  While the LME itself may not directly impact cryptocurrency prices, there can be indirect effects. For example, if there is a significant change in the demand for base metals due to economic factors, it can have a ripple effect on the overall market sentiment. This, in turn, can indirectly influence cryptocurrency prices. However, it's important to note that the relationship between the LME and cryptocurrency prices is not direct or straightforward.
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• Dec 26, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that the LME does not have a direct impact on cryptocurrency prices. BYDFi is a digital currency exchange that focuses on providing a secure and efficient trading platform for cryptocurrencies. The LME primarily deals with base metals, and its activities do not directly affect the prices of digital assets like cryptocurrencies. The factors that influence cryptocurrency prices are more related to market demand, investor sentiment, and overall market conditions.
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