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Which cryptocurrencies are affected by the fluctuation of Euro to Dollar value?

avatarAshish GuptaDec 26, 2021 · 3 years ago1 answers

Can you provide a list of cryptocurrencies that are impacted by the fluctuation of the Euro to Dollar exchange rate? I'm interested in understanding which digital currencies are influenced by changes in the value of these two major fiat currencies.

Which cryptocurrencies are affected by the fluctuation of Euro to Dollar value?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    As an expert in the cryptocurrency industry, I can confirm that the fluctuation of the Euro to Dollar exchange rate can indeed impact the value of certain cryptocurrencies. Bitcoin, Ethereum, Ripple, and Litecoin are among the cryptocurrencies that are known to be influenced by changes in the value of these two major fiat currencies. When the Euro strengthens against the Dollar, the prices of these cryptocurrencies may rise, and when the Euro weakens, their prices may decline. However, it's important to consider that the relationship between the Euro to Dollar exchange rate and cryptocurrency prices is not the sole determining factor. Other factors such as market demand, investor sentiment, and technological developments also play a significant role in shaping the value of cryptocurrencies.