How is the term 'cable' used in the world of digital currencies?

4 answers

• Dec 20, 2021 · 3 years ago
  In the world of digital currencies, the term 'cable' refers to the exchange rate between the British pound (GBP) and the United States dollar (USD). It is derived from the historical use of undersea cables to transmit telegraphic messages between the two countries. The cable rate is an important indicator for traders and investors who are interested in the GBP/USD currency pair and its impact on the cryptocurrency market. It can influence the value of digital currencies that are paired with GBP or USD, as well as the overall market sentiment.
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• Dec 20, 2021 · 3 years ago
  The term 'cable' in the world of digital currencies is a shorthand way of referring to the GBP/USD exchange rate. It is commonly used by traders and investors to discuss the fluctuations and trends in the value of the British pound against the US dollar. The cable rate can have a significant impact on the cryptocurrency market, as it affects the value of digital currencies that are paired with GBP or USD. Traders often monitor the cable rate closely to make informed decisions about their cryptocurrency investments.
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• Dec 20, 2021 · 3 years ago
  The term 'cable' is widely used in the world of digital currencies to represent the GBP/USD exchange rate. It is an important benchmark for traders and investors, as it reflects the strength or weakness of the British pound relative to the US dollar. Changes in the cable rate can have a ripple effect on the cryptocurrency market, influencing the value of digital currencies that are tied to GBP or USD. It is crucial for market participants to stay updated on the cable rate and its potential impact on the digital currency market.
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• Dec 20, 2021 · 3 years ago
  The term 'cable' is commonly used in the digital currency community to refer to the GBP/USD exchange rate. It is derived from the historical use of undersea cables to transmit currency exchange information between the UK and the US. The cable rate is closely monitored by traders and investors, as it can have a significant impact on the value of digital currencies that are paired with GBP or USD. Understanding the cable rate is essential for anyone involved in the digital currency market, as it provides insights into the dynamics of the GBP/USD currency pair and its influence on the broader cryptocurrency market.
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