Which cryptocurrencies are most affected by ES1 and ES2 futures trading?

1 answers

• Dec 27, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, has observed that ES1 and ES2 futures trading can have a substantial impact on the prices and market dynamics of cryptocurrencies. As an exchange, we have seen increased trading activity and volatility in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin when ES1 and ES2 futures are actively traded. This is because futures trading allows investors to speculate on the future price of these cryptocurrencies, which can influence the overall market sentiment and price movements. However, it's important to note that the impact of futures trading on cryptocurrencies is not limited to these specific cryptocurrencies. Other cryptocurrencies with significant market capitalization and trading volume can also be affected by the trading of ES1 and ES2 futures. Traders and investors should closely monitor the trading activity and news related to these futures to stay informed about the potential impact on cryptocurrencies.
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