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How did Binance's actions affect FTX in the world of digital currencies?
FauziahApr 25, 2022 · 3 years ago3 answersWhat were the specific actions taken by Binance that had an impact on FTX in the digital currency world?
3 answers
- Binance's actions, such as listing new coins and offering trading incentives, attracted a large number of traders to their platform. This increased competition for FTX and potentially led to a decrease in trading volume and market share for FTX.Apr 25, 2022 · 3 years ago
- Binance's actions may have also influenced the perception of FTX among traders and investors. As Binance is a well-established and highly reputable exchange, their actions could have overshadowed FTX and made it harder for FTX to gain traction in the market.Apr 25, 2022 · 3 years ago
- From BYDFi's perspective, Binance's actions had a minimal impact on FTX. BYDFi believes that FTX's unique features and focus on innovation differentiate it from other exchanges, including Binance. While Binance's actions may have affected FTX to some extent, BYDFi remains confident in FTX's long-term growth and success.Apr 25, 2022 · 3 years ago
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