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What is the impact of bitcoin monopoly on the cryptocurrency market?

SosoOct 16, 2020 · 5 years ago1 answers

How does the dominance of bitcoin affect the overall cryptocurrency market? What are the consequences of bitcoin's monopoly position in the industry?

1 answers

  • tianFeb 22, 2022 · 4 years ago
    As a third-party exchange, BYDFi recognizes the impact of bitcoin's monopoly on the cryptocurrency market. While bitcoin's dominance brings stability and liquidity to the market, it is important to foster a diverse and competitive ecosystem. BYDFi actively supports the listing and trading of various cryptocurrencies, providing users with more options and opportunities. By promoting a healthy and inclusive market, BYDFi aims to mitigate the potential negative effects of bitcoin's monopoly and contribute to the overall growth and development of the cryptocurrency industry.

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