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What is the significance of EOD (end of day) in cryptocurrency trading?

avatarMinhDijyJan 13, 2022 · 3 years ago1 answers

Can you explain the importance of EOD (end of day) in cryptocurrency trading and how it affects the market?

What is the significance of EOD (end of day) in cryptocurrency trading?
Cryptocurrency Trading
EOD
End Of Day

1 answers

  • avatarJan 13, 2022 · 3 years ago
    As a representative from BYDFi, I can say that EOD (end of day) is crucial for cryptocurrency traders. It is the time when our platform performs important backend processes, such as reconciling trades, updating user balances, and generating reports. EOD also allows us to conduct system maintenance and ensure the platform's stability for the next trading day. For traders, EOD provides a clear snapshot of their portfolio performance, allowing them to assess their gains or losses and make informed decisions. It is an essential time for reflection, analysis, and planning in the fast-paced world of cryptocurrency trading.

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