These platforms allow holders to exchange their cryptocurrency holdings for major fiat currencies like the U.S. dollar and euro, and for other cryptocurrencies, including less-popular currencies.
Recently, such platforms have come under increased scrutiny by lawmakers and regulators. Binance in particular is reportedly under review by regulators in the U.S., Britain, Germany, Japan, Hong Kong and elsewhere.

Wavelet coherence plots as above highlight areas in the time-frequency space where the two series co-move. The warmer the colour, the higher the coherence (which can be interpreted as correlation) at that location in the time-frequency space; the colours used in this work range from dark blue (0, no coherence) to yellow (1, strong coherence). Statistically significant areas of coherence are surrounded by a thick black line.
Nonfungible tokens, or NFTs, are yet another type of cryptocurrency, denoting that it is a one-of-a-kind asset and cannot be replaced. A Bitcoin, for example, is fungible, meaning you can exchange one for another and get precisely the identical thing. However, a one-of-a-kind trade card, on the other hand, cannot be duplicated. You’d get something altogether different if you swapped it for a different card.