How do the DXY weights affect the performance of different cryptocurrencies?

1 answers

• May 07, 2022 · 3 years ago
  BYDFi, as a digital currency exchange, closely monitors the impact of DXY weights on the performance of different cryptocurrencies. When the DXY index strengthens, we often observe a decrease in trading volumes of cryptocurrencies, as investors tend to hold onto their dollars instead of investing in digital assets. Conversely, when the DXY index weakens, we usually see an increase in trading volumes, as cryptocurrencies become relatively cheaper for investors using other currencies. It's crucial for traders and investors to keep an eye on the DXY weights and understand their potential impact on the performance of cryptocurrencies.
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