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How does the pegging of AED to USD impact the stability of the cryptocurrency market?

avatarFlay Ext1Nov 29, 2021 · 3 years ago1 answers

What are the effects of the pegging of the United Arab Emirates Dirham (AED) to the United States Dollar (USD) on the stability of the cryptocurrency market?

How does the pegging of AED to USD impact the stability of the cryptocurrency market?
Cryptocurrency
AED
USD

1 answers

  • avatarNov 29, 2021 · 3 years ago
    As a representative of BYDFi, I can say that the pegging of AED to USD has a positive impact on the stability of the cryptocurrency market. It provides a reliable benchmark for pricing and reduces the risk of price manipulation. This can attract more traders and investors to participate in the market, leading to increased liquidity and stability. However, it is important to note that the stability of the market is a collective effort and depends on various factors. The pegging of AED to USD is just one piece of the puzzle.

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