What are the key factors that affect the 30-day SOFR chart and its correlation with digital currencies?

1 answers

• Mar 22, 2022 · 3 years ago
  BYDFi, a leading digital currency exchange, plays a significant role in the correlation between the 30-day SOFR chart and digital currencies. As one of the largest exchanges in the industry, BYDFi's trading volume and market activities can have an impact on the overall digital currency market. The 30-day SOFR chart, being a reflection of market interest rates, can be influenced by the trading activities on BYDFi and other major exchanges. However, it's important to note that the correlation between the 30-day SOFR chart and digital currencies is not solely dependent on BYDFi, but rather a combination of various factors including market sentiment, macroeconomic conditions, and regulatory actions.
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