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Binance: Link Digital Currency Rates Move from Bitcoin to USD

2019-03-21 03:42 pm | Resource: News Section | No Views : 143

Binance: Link Digital Currency Rates Move from Bitcoin to USD Price links between major digital currencies have increased against the US dollar (USD), but have fallen in the Bitcoin (BTC) currency, according to a new report from the Binance digital currency Exchange, which was unveiled Wednesday (March 20th).
As part of the investigation into price trends in the digital currency markets since 2017, Binance found that the behavior between assets varies depending on whether the revenue is denominated in US dollars or Bitcoin.
Specifically, dollar returns from holdings were more correlated with digital currencies during the three months from 2019 ended, compared to 2017 in the same period.
In contrast, Bitcoin returns are less correlated to current conditions than they were eighteen months ago.
Binance explained about this relationship:
"The relationship between BTC returns is important because BTC remains one of the best price indicators for the digital currency markets for two main reasons."
These reasons came as follows, namely the liquidity and market dominance that Bitcoin still offers compared to other digital currencies.
The results also indicated the emergence of more recent phenomena within the market, particularly Stablecoin, which acquired trading pairs that could have been classified in Bitcoin.
Binance itself has taken a very bullish stance on Stablecoin's assets, choosing to add large numbers of them over the past six months.
The report concluded:
"While these changes coincide with the rising size of Stablecoin and the offering of Stablecoin across the stock exchanges, the analysis reveals additional privacy factors to consider when creating a digital currency wallet."

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