Are Crypto Exchanges and Data Feeds Driving the Price of ETH?

in #investing • last year

The crypto market has been in a state of constant flux since the price of Ethereum (ETH) rose from $1,500 to $500 in less than a week. The price action is driven by a number of factors, including uncertainty around regulators approving several new cryptocurrencies and the discovery that major exchanges, including Binance and Bitfinex, are disclosing data from crypto users.

The price of ETH is currently trading around $300, down from over $900 at its peak just a week ago. This drop is attributed to concerns about the future of Ethereum and its ability to compete with other digital currencies like Bitcoin (BTC) and XRP that have higher transaction speeds and lower fees.

However, another factor that can cause the price to drop is incorrect assumptions about the contribution of data flows to cryptocurrency prices. In fact, it seems that feeds are not as important as previously thought when determining the value of digital assets, as they do not directly impact price or volume trends. on exchanges.

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