Which cryptocurrencies are most affected by fluctuations in the euro to American dollar exchange rate?

3 answers

• Dec 16, 2021 · 3 years ago
  Cryptocurrencies that are most affected by fluctuations in the euro to American dollar exchange rate include Bitcoin, Ethereum, and Ripple. These cryptocurrencies are highly traded and have a strong correlation with major fiat currencies. When the euro to American dollar exchange rate fluctuates, it can impact the value of these cryptocurrencies. For example, if the euro weakens against the dollar, it may lead to a decrease in the value of Bitcoin, Ethereum, and Ripple.
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• Dec 16, 2021 · 3 years ago
  The exchange rate between the euro and the American dollar can have a significant impact on the cryptocurrency market. Cryptocurrencies that are most affected by these fluctuations are often the ones with high trading volumes and liquidity. Bitcoin, being the largest and most widely traded cryptocurrency, is particularly sensitive to changes in the euro to dollar exchange rate. Other cryptocurrencies like Ethereum and Ripple also tend to be influenced by these fluctuations, although to a lesser extent.
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• Dec 16, 2021 · 3 years ago
  According to a recent analysis by BYDFi, cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are most affected by fluctuations in the euro to American dollar exchange rate. This is because these cryptocurrencies have a large user base and are widely accepted for international transactions. When the euro weakens against the dollar, it can lead to a decrease in the value of these cryptocurrencies. However, it's important to note that the impact of exchange rate fluctuations on cryptocurrencies can vary and is influenced by various factors such as market sentiment and global economic conditions.
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