What role does USDX play in the cryptocurrency market compared to DXY?

1 answers

• Dec 15, 2021 · 3 years ago
  USDX and DXY are two important indexes that provide insights into the relationship between the US dollar and different markets. DXY, as the US Dollar Index, reflects the value of the US dollar against a basket of major fiat currencies. It is widely used by forex traders and investors to assess the strength of the US dollar in the global economy. On the other hand, USDX is a unique index that tracks the value of the US dollar against a basket of digital currencies. It helps traders and investors understand the impact of the US dollar on the cryptocurrency market. USDX is particularly relevant for those who are interested in the intersection of traditional finance and digital assets. It allows them to monitor the performance of the US dollar in the context of cryptocurrencies, which can provide valuable insights for their investment strategies.
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