How does the phrase '10 cents on the dollar' relate to digital currencies?

1 answers

• Nov 29, 2021 · 3 years ago
  In the world of digital currencies, the phrase '10 cents on the dollar' is often used to describe a situation where a cryptocurrency's value has plummeted to a mere fraction of its original worth. This can happen due to various factors, such as market manipulation, regulatory crackdowns, or a loss of trust in the project. When a cryptocurrency is trading at 10 cents on the dollar, it means that investors can purchase it for a significantly reduced price compared to its previous highs. However, it also indicates a lack of faith in the currency and can be a warning sign for potential investors. It's important to conduct thorough research and consider the underlying reasons for the decline before making any investment decisions.
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