Trading profits are proportional to cryptocurrency growth
A recent report on primexbt exchange pointed out the correlation between the prices of coins and their developers:
“We were able to see that when a single developer co-programmed the two cryptocurrencies resulted in similarity in their interest rates in the following months,” reads the report “From Code to Market: A network between programmers and the equivalent interest of cryptocurrencies.
Secrets in lines of code
Created and operated by lines of code, cryptocurrencies have their own rules and principles in some respects, such as security and usability.
According to this report, the coins use open source code to prevent outside manipulation: “GitHub alone is hosting the tokens of more than 1600 virtual currencies.”
“Here, we see 4% of developers contributing to the code of various crypto, and the market itself reflects the dependence of these related assets,” the report said. this report writes.
Crypto assets still have many correlations
In essence, if the programmer implements multiple types of assets, those assets will have similarities in market performance. The survey results show a clear connection between the similar growth of crypto and their market behavior:
More broadly, this study reveals a long-overlooked aspect – the transparency of the crypto-based ecosystem, as well as the expectation of interest from researchers, investors, and regulators. for this matter.”
The mainstream market holds many important factors that help traders price assets. As such, the findings of this study could advance new standards in crypto-asset analysis.
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