Which cryptocurrencies are most affected by changes in the exchange rate of euro to dollar?

3 answers

• Dec 25, 2021 · 3 years ago
  When it comes to the impact of the euro to dollar exchange rate on cryptocurrencies, Bitcoin and Ethereum are the most affected. These two digital currencies have the highest market capitalization and are widely traded against both the euro and the dollar. As the exchange rate between these two fiat currencies changes, it directly affects the value of Bitcoin and Ethereum. Traders and investors closely monitor this exchange rate as it can significantly influence the prices of these cryptocurrencies.
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• Dec 25, 2021 · 3 years ago
  The exchange rate between the euro and the dollar plays a crucial role in the cryptocurrency market. Ripple, another popular digital currency, is also affected by changes in this exchange rate. Ripple has partnerships with various banks and financial institutions across the globe, and many of these partnerships involve transactions in euros and dollars. Therefore, any fluctuations in the exchange rate can impact the demand for Ripple and its overall value in the market.
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• Dec 25, 2021 · 3 years ago
  According to a recent analysis by BYDFi, a leading cryptocurrency exchange, besides Bitcoin, Ethereum, and Ripple, other cryptocurrencies that are significantly influenced by changes in the euro to dollar exchange rate include Litecoin, Bitcoin Cash, and Cardano. These digital currencies have a substantial trading volume against both the euro and the dollar, making them susceptible to fluctuations in the exchange rate. Traders and investors should keep a close eye on the euro to dollar exchange rate when considering these cryptocurrencies.
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