Which cryptocurrencies are most affected by fluctuations in the US dollar versus Thai baht exchange rate?

3 answers

• Dec 25, 2021 · 3 years ago
  When it comes to the impact of the exchange rate between the US dollar and the Thai baht on cryptocurrencies, it's important to consider the trading volume and liquidity of each cryptocurrency. Cryptocurrencies with higher trading volume and liquidity are generally less affected by exchange rate fluctuations. Bitcoin, being the most popular and widely traded cryptocurrency, tends to be less influenced by such fluctuations. However, smaller and less popular cryptocurrencies may experience more significant impact. Additionally, cryptocurrencies that have strong ties to the Thai market or are actively traded on Thai exchanges may be more affected by the USD-THB exchange rate.
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• Dec 25, 2021 · 3 years ago
  Fluctuations in the USD-THB exchange rate can have varying effects on different cryptocurrencies. Some cryptocurrencies may have direct trading pairs with the Thai baht, making them more susceptible to exchange rate changes. Others may have indirect exposure through trading pairs with the US dollar, which can indirectly affect their value in relation to the Thai baht. It's also worth noting that cryptocurrencies with a strong presence in the Thai market or those that are actively used for remittances or cross-border transactions between Thailand and the US may be more influenced by the USD-THB exchange rate.
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• Dec 25, 2021 · 3 years ago
  At BYDFi, we have observed that cryptocurrencies with direct trading pairs with the Thai baht, such as Bitcoin (BTC/THB) and Ethereum (ETH/THB), are more directly impacted by fluctuations in the USD-THB exchange rate. These cryptocurrencies tend to exhibit higher volatility during periods of significant exchange rate movements. However, it's important to note that the overall impact of the exchange rate on cryptocurrencies can be influenced by various factors, including market sentiment, global economic conditions, and regulatory developments.
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