How is YoY performance calculated for digital currencies?

5 answers

• Nov 26, 2021 · 3 years ago
  Year-over-Year (YoY) performance for digital currencies is calculated by comparing the price or value of a digital currency at the end of a specific year with its price or value at the end of the previous year. This calculation provides insights into the percentage change in the digital currency's price or value over the course of a year. It is a useful metric for evaluating the long-term performance of digital currencies and identifying trends.
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• Nov 26, 2021 · 3 years ago
  To calculate YoY performance for digital currencies, you need to determine the closing price of the digital currency on the last day of the current year and the closing price on the last day of the previous year. Then, subtract the previous year's closing price from the current year's closing price and divide the result by the previous year's closing price. Finally, multiply the result by 100 to get the YoY performance percentage. This calculation helps investors and traders assess the growth or decline of digital currencies over a year.
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• Nov 26, 2021 · 3 years ago
  YoY performance for digital currencies can be calculated using various methods, depending on the specific platform or exchange you are using. For example, at BYDFi, we calculate YoY performance by comparing the average price of a digital currency over the last 365 days with its average price over the previous 365 days. This approach provides a more comprehensive view of the digital currency's performance over a year, considering fluctuations in price throughout the year. It's important to note that different platforms or exchanges may use different calculation methods.
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• Nov 26, 2021 · 3 years ago
  Calculating YoY performance for digital currencies is a straightforward process. You simply need to determine the price or value of the digital currency at the end of the current year and the price or value at the end of the previous year. Then, subtract the previous year's price from the current year's price and divide the result by the previous year's price. Finally, multiply the result by 100 to obtain the YoY performance percentage. This calculation helps investors and traders assess the overall performance of digital currencies over a year and make informed decisions based on the trends observed.
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• Nov 26, 2021 · 3 years ago
  When it comes to calculating YoY performance for digital currencies, it's important to consider factors beyond just the price or value. Other metrics, such as trading volume, market capitalization, and user adoption, can also provide valuable insights into the performance of digital currencies over a year. By analyzing these additional metrics alongside price changes, investors and traders can gain a more comprehensive understanding of the overall performance and potential growth of digital currencies.
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