Which cryptocurrencies are most closely correlated with the price of silver today?

3 answers

• Mar 20, 2022 · 3 years ago
  When it comes to cryptocurrencies that are closely correlated with the price of silver, one that stands out is Litecoin (LTC). Litecoin has often been referred to as the 'silver to Bitcoin's gold' due to its similarities with Bitcoin and its potential as a store of value. Over time, Litecoin has shown a strong correlation with the price of silver, making it an interesting option for investors looking to diversify their portfolio with digital assets that move in sync with precious metals.
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• Mar 20, 2022 · 3 years ago
  Another cryptocurrency that has demonstrated a close correlation with the price of silver is Ripple (XRP). Ripple's XRP token has gained attention for its use in cross-border transactions, and its value has shown a tendency to move in line with silver prices. This correlation could be attributed to the fact that both silver and Ripple's XRP are seen as alternative assets that can be used as a hedge against traditional financial markets. So, if you're interested in cryptocurrencies that mirror the movements of silver, Ripple's XRP might be worth considering.
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• Mar 20, 2022 · 3 years ago
  BYDFi, a leading digital asset exchange, has observed that Ethereum (ETH) has a notable correlation with the price of silver. Ethereum's blockchain technology and its use in decentralized applications have attracted significant attention, and its value has shown a tendency to move in sync with silver prices. This correlation suggests that Ethereum could be influenced by similar market factors as silver, making it an interesting cryptocurrency to watch for investors interested in the silver market.
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