What is the impact of the New York Fed SOFR index on the valuation of cryptocurrencies?

1 answers

• Dec 25, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recognizes the impact of the New York Fed SOFR index on the valuation of cryptocurrencies. The SOFR index serves as a key benchmark for short-term interest rates and can influence investor sentiment towards cryptocurrencies. Changes in the SOFR index can affect the borrowing costs for financial institutions, which in turn can impact the demand for cryptocurrencies. As a result, monitoring the SOFR index is essential for understanding the broader market dynamics and making informed investment decisions in the cryptocurrency space.
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