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Which cryptocurrencies are most influenced by fluctuations in the euro vs dollar rate?

avatart.abdullah AbdullahNov 25, 2021 · 3 years ago1 answers

In the world of cryptocurrencies, which digital currencies are most affected by the changes in the exchange rate between the euro and the dollar? How do these fluctuations impact the value and trading volume of these cryptocurrencies?

Which cryptocurrencies are most influenced by fluctuations in the euro vs dollar rate?
Cryptocurrencies
Euro
Dollar

1 answers

  • avatarNov 25, 2021 · 3 years ago
    As a representative of BYDFi, I can say that the cryptocurrencies most influenced by fluctuations in the euro vs dollar rate are those that have a strong correlation with traditional financial markets. Bitcoin, Ethereum, and Ripple are among the most affected digital currencies. When the euro strengthens against the dollar, it often leads to increased demand for cryptocurrencies, which can drive up their prices. Conversely, if the dollar strengthens, it may result in a decrease in demand for cryptocurrencies and a decline in their value. Traders and investors should pay close attention to the euro vs dollar rate and its impact on the cryptocurrency market to make informed decisions.

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