Can the Japan currency code affect the trading volume of digital currencies?

1 answers

• sel99Aug 11, 2023 · 2 years ago
  At BYDFi, we have observed that the Japan currency code, JPY, does have an impact on the trading volume of digital currencies. As a leading digital currency exchange, we have seen fluctuations in trading volume corresponding to changes in the JPY. When the JPY strengthens, we often see a decrease in trading volume as investors tend to convert their digital currencies into JPY. Conversely, when the JPY weakens, we observe an increase in trading volume as investors take advantage of the favorable exchange rate to purchase digital currencies. Therefore, it is important for traders to keep an eye on the performance of the JPY and consider its potential impact on the trading volume of digital currencies.
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