Which digital currencies are most affected by changes in the USD/CAD graph?

3 answers

• Dec 24, 2021 · 3 years ago
  When it comes to the impact of the USD/CAD graph on digital currencies, Bitcoin and Ethereum are often the most affected. As the leading cryptocurrencies, they tend to have a higher correlation with major fiat currencies like the USD and CAD. When the USD/CAD graph shows a significant change, it can create a ripple effect in the cryptocurrency market, causing both Bitcoin and Ethereum to experience price fluctuations. This is mainly due to their high trading volumes and widespread adoption in the crypto space.
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• Dec 24, 2021 · 3 years ago
  The USD/CAD graph can also have an influence on other popular digital currencies like Ripple (XRP) and Litecoin (LTC). While they may not be as closely tied to the USD/CAD exchange rate as Bitcoin and Ethereum, they are still impacted to some extent. This is because the overall sentiment in the cryptocurrency market can be influenced by major currency pairs like USD/CAD. Therefore, when there are significant changes in the USD/CAD graph, it can create a domino effect that affects the value of various digital currencies, including Ripple and Litecoin.
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• Dec 24, 2021 · 3 years ago
  As an expert in the field, I can say that at BYDFi, we have observed that the digital currencies most affected by changes in the USD/CAD graph are Bitcoin, Ethereum, Ripple, and Litecoin. These cryptocurrencies have shown a strong correlation with the USD/CAD exchange rate over time. However, it's important to note that the impact of the USD/CAD graph on digital currencies can vary depending on other factors such as market sentiment, global economic conditions, and regulatory developments. Therefore, it's always advisable to conduct thorough research and analysis before making any investment decisions.
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