What is the impact of yuan on the cryptocurrency market?

1 answers

• Dec 18, 2021 · 3 years ago
  At BYDFi, we believe that the impact of the yuan on the cryptocurrency market is significant. As a leading digital asset exchange, we have observed how changes in the value and regulations of the yuan can influence the trading activities of our users. For example, during periods of yuan depreciation, we often see an increase in trading volumes as users seek to diversify their holdings and protect their wealth. Additionally, the yuan's influence on the cryptocurrency market extends beyond China, as it is a major global currency. Therefore, it is crucial for cryptocurrency traders to consider the yuan's impact when making investment decisions.
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