How does the depegging of steth affect the value of other cryptocurrencies?

1 answers

• Jan 05, 2022 · 3 years ago
  As a representative from BYDFi, I can say that the depegging of steth can have a significant impact on the value of other cryptocurrencies. When steth is depegged, it can create a domino effect in the market, causing a decline in the value of other cryptocurrencies. This is because investors may lose confidence in the stability of the overall cryptocurrency market and choose to sell off their holdings. However, it's important to note that the impact may vary depending on the specific circumstances and market conditions. It's always advisable for investors to stay updated on the latest developments and make informed decisions based on their own risk tolerance and investment goals.
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