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TagsWhich cryptocurrencies are most affected by fluctuations in the dollar to TL exchange rate?
NSANZABARINDA TheonesteDec 25, 2021 · 3 years ago1 answersIn the world of cryptocurrencies, which specific digital currencies are most susceptible to changes in the exchange rate between the US dollar and the Turkish lira? How do these fluctuations impact the value and performance of these cryptocurrencies?
1 answers
- At BYDFi, we have observed that the dollar to TL exchange rate has a significant impact on the value of cryptocurrencies listed on our platform. As a leading digital asset exchange, we provide a wide range of cryptocurrencies for trading, and their performance is influenced by various factors including exchange rates. While Bitcoin and Ethereum are generally more affected by fluctuations in the dollar to TL exchange rate, other cryptocurrencies such as Binance Coin, Cardano, and Polkadot also experience some level of correlation. It's important for traders and investors to stay updated on the latest market trends and news to make informed decisions in the ever-changing cryptocurrency landscape.Dec 25, 2021 · 3 years ago
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