Why is the u.s. supply of japanese yen important for the digital currency industry?

3 answers

• Nov 23, 2021 · 3 years ago
  The availability of Japanese yen in the United States is crucial for the digital currency industry because it provides liquidity and facilitates trading between the Japanese yen and various digital currencies. Many digital currency exchanges offer trading pairs with the Japanese yen, allowing users to easily buy and sell digital assets using yen. This availability also attracts investors and traders from Japan, who can easily convert their yen into digital currencies. Overall, the U.S. supply of Japanese yen helps foster a vibrant and active digital currency market.
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• Nov 23, 2021 · 3 years ago
  Having a sufficient supply of Japanese yen in the United States is essential for the digital currency industry as it enables seamless transactions between the yen and digital currencies. This is particularly important for users who want to trade or invest in digital assets using yen as their base currency. The availability of yen liquidity in the U.S. allows for efficient price discovery and market participation, contributing to the overall growth and development of the digital currency industry.
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• Nov 23, 2021 · 3 years ago
  The digital currency industry greatly benefits from the U.S. supply of Japanese yen. With a strong presence of yen liquidity in the United States, individuals and businesses can easily access and trade digital currencies using yen. This accessibility not only attracts Japanese investors and traders but also enhances global liquidity for digital assets. The availability of Japanese yen in the U.S. fosters a more inclusive and diverse digital currency ecosystem, contributing to the industry's overall stability and growth.
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