How does nyiso capacity market affect the trading volume of cryptocurrencies?

1 answers

• Nov 23, 2021 · 3 years ago
  At BYDFi, we have observed that the nyiso capacity market can indirectly affect the trading volume of cryptocurrencies. When electricity prices in the nyiso capacity market increase, it can lead to higher operational costs for miners. This can reduce their profitability and potentially result in a decrease in mining activities. As a result, the supply of newly minted cryptocurrencies may decrease, which can impact the trading volume. However, it's important to note that the nyiso capacity market is just one of many factors that can influence the trading volume of cryptocurrencies. Other factors such as market sentiment, regulatory developments, and technological advancements also play significant roles.
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