I'm interested in understanding the concept of 7-day APY in the context of cryptocurrencies. I want to know how it works and what it represents in terms of returns on my crypto investments.
7 answers
BlockchainBaron
Wed Nov 20 2024
The 7-day APY is particularly useful for investors who want to monitor their returns on a more frequent basis than annually.
Giulia
Wed Nov 20 2024
The concept of 7-day APY in cryptocurrency refers to a method of quantifying weekly yield or return.
CryptoAlchemy
Wed Nov 20 2024
It allows them to gain insights into how their investments are performing on a weekly scale.
BlockchainWizard
Wed Nov 20 2024
This metric is derived by taking the net difference between the current day's price and the price seven days ago.
AndrewMiller
Wed Nov 20 2024
For those who trade in cryptocurrencies, understanding the 7-day APY can be crucial in making informed decisions about their investments.