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Cryptocurrency discussions / Re: Does proof of reserve affect token prices?
« on: Today at 03:15:44 PM »I simply want to understand the underlying reason behind all this excitement. Does it have any influence on the tokens listed on the cryptocurrency exchange or the BGB token itself?
I think there is a big correlation between a solid and verifiable Proof of Reserve (PoR) and a coin/token price in the market. We have to remember that everything is about demand and supply...and demand can be influenced by a lot of factors. People like traders and investors would tend to buy and hodl digital assets that they think really represent value and can be here today and into the future...meaning there must be a business that is doing well in the market. And this can be true with your example above which is BGB of Bitget.