How do useless tokens affect the value of other cryptocurrencies?

3 answers

• Thom EversJul 25, 2021 · 4 years ago
  Useless tokens can have a negative impact on the overall perception and trust in the cryptocurrency market. When investors see a proliferation of useless tokens, it raises concerns about the legitimacy and credibility of the entire market. This can lead to a decrease in demand for cryptocurrencies as a whole, which can ultimately result in a decline in their value.
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• SnarkySarkyMar 16, 2023 · 2 years ago
  While useless tokens may not directly affect the value of other cryptocurrencies, they can create noise and distraction in the market. Investors may become skeptical and cautious when they see numerous useless tokens being promoted, which can lead to a decrease in overall market sentiment and trading volume. This indirect impact can ultimately influence the value of other cryptocurrencies.
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• olinolíviaFeb 01, 2022 · 4 years ago
  From BYDFi's perspective, useless tokens can create confusion and dilute the focus on legitimate projects. We believe in the importance of quality tokens that provide real value and utility to users. Useless tokens can undermine the trust and credibility of the entire cryptocurrency ecosystem, which is why we are committed to promoting projects that have a genuine purpose and contribute to the growth of the industry.
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