Which cryptocurrencies are most affected by fluctuations in the exchange rate between the dollar and the pound?

3 answers

• Dec 18, 2021 · 3 years ago
  When it comes to cryptocurrencies, Bitcoin and Ethereum are among the most affected by fluctuations in the exchange rate between the dollar and the pound. As the two largest cryptocurrencies by market capitalization, they tend to have a higher trading volume and are more widely traded across various exchanges. Any significant changes in the exchange rate between the dollar and the pound can have a direct impact on the value of Bitcoin and Ethereum. Traders and investors closely monitor these fluctuations to make informed decisions in their trading strategies.
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• Dec 18, 2021 · 3 years ago
  Other cryptocurrencies that are also influenced by the exchange rate between the dollar and the pound include Ripple, Litecoin, and Bitcoin Cash. While they may not have the same market dominance as Bitcoin and Ethereum, these cryptocurrencies still have a substantial trading volume and are actively traded on many exchanges. Fluctuations in the exchange rate can affect the value of these cryptocurrencies, but the extent of the impact may vary depending on market conditions and investor sentiment.
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• Dec 18, 2021 · 3 years ago
  According to BYDFi, a leading digital asset exchange, cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Litecoin are most affected by fluctuations in the exchange rate between the dollar and the pound. These cryptocurrencies have a strong presence in the global market and are widely traded across various exchanges. Changes in the exchange rate can significantly impact their value and trading volume, making them more susceptible to market volatility. Traders and investors should carefully consider these factors when engaging in cryptocurrency trading.
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