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Which cryptocurrencies are most affected by changes in the SXXP index?

avatarLARISSA STEFANI DE JESUSJan 07, 2022 · 3 years ago1 answers

Can you provide insights into which cryptocurrencies are most influenced by fluctuations in the SXXP index? I'm particularly interested in understanding how changes in the SXXP index impact the performance and value of different cryptocurrencies.

Which cryptocurrencies are most affected by changes in the SXXP index?
Cryptocurrencies
SXXP Index
Performance

1 answers

  • avatarJan 07, 2022 · 3 years ago
    At BYDFi, we have observed that cryptocurrencies with a smaller market capitalization are often more affected by changes in the SXXP index. This is because smaller cryptocurrencies tend to have less liquidity and are more susceptible to market fluctuations. However, it's important to note that the impact of the SXXP index on cryptocurrencies can vary over time and is influenced by a multitude of factors. Therefore, it's advisable to diversify your cryptocurrency portfolio and consider a range of factors beyond the SXXP index when making investment decisions.

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