Which digital currencies are most affected by changes in the Euro to USD exchange rate over time?

3 answers

• Dec 28, 2021 · 3 years ago
  Cryptocurrencies such as Bitcoin and Ethereum are among the most affected by changes in the Euro to USD exchange rate over time. As the Euro and USD are major fiat currencies, any significant movement in their exchange rate can have a ripple effect on the value of cryptocurrencies. This is because many cryptocurrency trading pairs are directly tied to these two fiat currencies. Therefore, when the Euro to USD exchange rate changes, it can impact the value of cryptocurrencies across various exchanges and markets.
  517259
• Dec 28, 2021 · 3 years ago
  When it comes to the impact of the Euro to USD exchange rate on digital currencies, it's important to consider the liquidity and trading volume of each cryptocurrency. Cryptocurrencies with higher liquidity and trading volume are generally more affected by changes in the exchange rate. This is because higher trading volume means there are more buyers and sellers in the market, which can amplify the impact of exchange rate fluctuations. Therefore, popular cryptocurrencies like Bitcoin, Ethereum, and Ripple are likely to be the most affected by changes in the Euro to USD exchange rate over time.
  600200
• Dec 28, 2021 · 3 years ago
  At BYDFi, we've observed that Bitcoin, Ethereum, and Litecoin are the digital currencies that are most influenced by changes in the Euro to USD exchange rate over time. These cryptocurrencies have a strong presence in the global market and are widely traded against both the Euro and USD. As a result, any significant changes in the exchange rate between these two fiat currencies can have a direct impact on the value of Bitcoin, Ethereum, and Litecoin. Traders and investors should closely monitor the Euro to USD exchange rate if they hold or trade these cryptocurrencies.
  575144