Which cryptocurrencies are most affected by the exchange rate between US dollar and Brazilian real?

3 answers

• Dec 29, 2021 · 3 years ago
  Cryptocurrencies that are most affected by the exchange rate between the US dollar and Brazilian real are those that have a high trading volume in the Brazilian market and are widely used for transactions in Brazil. Examples of such cryptocurrencies include Bitcoin, Ethereum, and Ripple. These cryptocurrencies are more likely to experience price fluctuations in response to changes in the exchange rate between the US dollar and Brazilian real due to their strong presence and usage in the Brazilian market. In addition, stablecoins pegged to the US dollar, such as Tether (USDT), may also be affected by the exchange rate between the US dollar and Brazilian real. Since stablecoins aim to maintain a 1:1 ratio with the US dollar, any significant fluctuation in the exchange rate can impact their value in relation to the Brazilian real. Overall, the cryptocurrencies most affected by the exchange rate between the US dollar and Brazilian real are those with a strong presence in the Brazilian market and stablecoins pegged to the US dollar.
  1045523
• Dec 29, 2021 · 3 years ago
  When it comes to the impact of the exchange rate between the US dollar and Brazilian real on cryptocurrencies, it's important to consider the trading volume and market demand in Brazil. Cryptocurrencies that are widely accepted and used in Brazil are more likely to be influenced by fluctuations in the exchange rate. Bitcoin, being the most popular and widely recognized cryptocurrency, is likely to be affected by changes in the exchange rate between the US dollar and Brazilian real. Ethereum, with its smart contract capabilities and growing adoption, is also expected to be impacted. Additionally, Ripple, which has partnerships with several Brazilian financial institutions, may experience some influence from the exchange rate fluctuations. It's worth noting that the impact may vary depending on the magnitude and duration of the exchange rate changes. Major shifts in the exchange rate can have a more significant effect on cryptocurrencies, while minor fluctuations may have a limited impact. Overall, the cryptocurrencies most affected by the exchange rate between the US dollar and Brazilian real are likely to be Bitcoin, Ethereum, and Ripple, due to their popularity and usage in Brazil.
  1204402
• Dec 29, 2021 · 3 years ago
  At BYDFi, we believe that the cryptocurrencies most affected by the exchange rate between the US dollar and Brazilian real are those that have a strong user base and trading volume in Brazil. Bitcoin, being the most well-known and widely used cryptocurrency, is likely to be impacted by fluctuations in the exchange rate. Ethereum, with its smart contract capabilities and growing adoption, may also experience some influence from the exchange rate changes. Additionally, Ripple, with its partnerships in the Brazilian market, may be affected as well. It's important to note that the impact of the exchange rate on cryptocurrencies is not limited to these three examples. Other cryptocurrencies with a significant presence in Brazil, such as Litecoin and Bitcoin Cash, may also be influenced by the exchange rate fluctuations. In summary, the cryptocurrencies most affected by the exchange rate between the US dollar and Brazilian real are likely to be Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash, due to their popularity and usage in Brazil.
  1054264