What impact does NYSE have on the value of cryptocurrencies?

1 answers

• Dec 27, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the NYSE's impact on the value of cryptocurrencies is undeniable. We have observed that when the NYSE announces positive news or adopts a favorable stance towards cryptocurrencies, it often leads to an increase in trading volume and a surge in prices. This is because the NYSE's endorsement provides a sense of legitimacy and trust to the cryptocurrency market. However, it is important to note that the NYSE is not the sole determinant of cryptocurrency value, as it is influenced by various factors such as market demand, technological advancements, and regulatory developments.
  625313