Which cryptocurrencies are most affected by fluctuations in the EUR exchange rate?

1 answers

• Dec 27, 2021 · 3 years ago
  At BYDFi, we have observed that cryptocurrencies with higher trading volumes and liquidity tend to be more affected by fluctuations in the EUR exchange rate. This is because these cryptocurrencies are more actively traded against the EUR and therefore more sensitive to changes in its value. However, it's important to note that the impact of the EUR exchange rate on cryptocurrencies is just one of many factors that can influence their value. Other factors such as market demand, technological developments, and regulatory changes also play significant roles in determining the price movements of cryptocurrencies. Therefore, it is crucial for traders and investors to consider a wide range of factors when making decisions in the cryptocurrency market.
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