Which cryptocurrencies are most affected by changes in the dollar exchange rate?

3 answers

• Nov 23, 2021 · 3 years ago
  As an expert in the field of cryptocurrencies, I can tell you that Bitcoin and Ethereum are the two most affected digital currencies when it comes to changes in the dollar exchange rate. These two cryptocurrencies have the highest market capitalization and are often used as a benchmark for the entire cryptocurrency market. Therefore, any significant changes in the value of the US dollar can have a direct impact on the value of Bitcoin and Ethereum. Other cryptocurrencies, such as Ripple and Litecoin, may also be affected to some extent, but not as significantly as Bitcoin and Ethereum.
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• Nov 23, 2021 · 3 years ago
  When it comes to the impact of the dollar exchange rate on cryptocurrencies, it's important to consider the global nature of the cryptocurrency market. Since most cryptocurrencies are traded against major fiat currencies, including the US dollar, changes in the dollar exchange rate can have a ripple effect on the entire market. However, it's worth noting that the degree of impact may vary depending on factors such as the liquidity and trading volume of each cryptocurrency. Therefore, while Bitcoin and Ethereum are generally considered to be the most affected by changes in the dollar exchange rate, it's important to keep an eye on other cryptocurrencies as well.
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• Nov 23, 2021 · 3 years ago
  According to a recent analysis conducted by BYDFi, a leading digital currency exchange, the cryptocurrencies that are most affected by changes in the dollar exchange rate are Bitcoin, Ethereum, and Ripple. These three digital currencies have the highest trading volumes against the US dollar and are therefore more susceptible to fluctuations in the dollar exchange rate. However, it's important to note that the impact of the dollar exchange rate on cryptocurrencies is not limited to these three. Other cryptocurrencies, such as Litecoin and Bitcoin Cash, may also experience significant price movements in response to changes in the value of the US dollar.
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