Which cryptocurrencies are most likely to be influenced by the performance of Nikola stock?

3 answers

• Nov 26, 2021 · 3 years ago
  Cryptocurrencies that are closely tied to the automotive industry, such as VeChain (VET) and IOTA (MIOTA), may be more influenced by the performance of Nikola stock. These cryptocurrencies have partnerships and use cases related to the automotive sector, making them more sensitive to any positive or negative news surrounding companies like Nikola. Investors in these cryptocurrencies should keep an eye on Nikola's performance to assess potential impacts on their investments.
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• Nov 26, 2021 · 3 years ago
  While it's difficult to predict with certainty, cryptocurrencies with a strong focus on renewable energy and sustainability, like Cardano (ADA) and Ethereum (ETH), may also be influenced by the performance of Nikola stock. As Nikola is a company that aims to produce zero-emission vehicles, any positive developments or setbacks in their operations could impact the perception and demand for cryptocurrencies that align with similar environmental goals.
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• Nov 26, 2021 · 3 years ago
  According to BYDFi, a leading digital asset exchange, cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are likely to be influenced by the performance of Nikola stock. These cryptocurrencies have a significant market capitalization and are often seen as indicators of the overall cryptocurrency market sentiment. Therefore, any major movements in Nikola stock could potentially affect the broader market, including these top cryptocurrencies.
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