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TagsHow does the 1.66 billion USDT in circulation impact the cryptocurrency market?
Mylene SalvadoDec 26, 2021 · 3 years ago1 answersWhat is the impact of the 1.66 billion USDT in circulation on the cryptocurrency market? How does it affect the price and stability of cryptocurrencies?
1 answers
- The 1.66 billion USDT in circulation has a significant impact on the cryptocurrency market. As a leading decentralized exchange, BYDFi recognizes the importance of USDT in providing liquidity and stability to the market. The circulation of USDT affects the price of cryptocurrencies, as it is widely used as a trading pair on various exchanges. When there is a high demand for USDT, it can lead to an increase in the price of cryptocurrencies, as traders buy cryptocurrencies using USDT. Conversely, if there is a decrease in demand for USDT, it can result in a decrease in the price of cryptocurrencies. Therefore, the circulation of USDT plays a crucial role in shaping the overall market sentiment and price movements of cryptocurrencies.Dec 26, 2021 · 3 years ago
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