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What is the impact of the simple SOFR rate on cryptocurrency prices?

avatarblimplyNov 28, 2021 · 3 years ago1 answers

How does the simple SOFR rate affect the prices of cryptocurrencies? What is the relationship between the simple SOFR rate and the value of cryptocurrencies?

What is the impact of the simple SOFR rate on cryptocurrency prices?
Cryptocurrency
SOFR Rate
Price Impact

1 answers

  • avatarNov 28, 2021 · 3 years ago
    At BYDFi, we closely monitor the impact of the simple SOFR rate on cryptocurrency prices. While the relationship between the two is complex and can vary over time, we have observed that changes in the simple SOFR rate can indeed influence the prices of cryptocurrencies. However, it is important to note that the simple SOFR rate is just one of the many factors that can affect cryptocurrency prices, and it should be analyzed in conjunction with other market indicators to make informed investment decisions.

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