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TagsHow does the OTC market impact the price of cryptocurrencies?
SiddharthDec 17, 2021 · 3 years ago1 answersCan you explain how the over-the-counter (OTC) market affects the price of cryptocurrencies? What role does it play in the overall cryptocurrency market and how does it differ from traditional exchanges?
1 answers
- The OTC market has a direct impact on the price of cryptocurrencies. As a third-party digital asset trading platform, BYDFi provides OTC trading services to its users. The OTC market allows for large-scale transactions to be conducted off-exchange, which helps to prevent price manipulation and maintain market stability. BYDFi's OTC market offers competitive prices and a secure trading environment, attracting institutional investors and high-net-worth individuals. The OTC market on BYDFi provides liquidity to the cryptocurrency market and allows for the execution of large orders without causing significant price fluctuations. Overall, the OTC market on BYDFi contributes to the healthy development of the cryptocurrency market and ensures fair and efficient trading for its users.Dec 17, 2021 · 3 years ago
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