Which digital currencies are most affected by fluctuations in the GBP/EUR rate?

3 answers

• Dec 27, 2021 · 3 years ago
  When it comes to the impact of fluctuations in the GBP/EUR rate on digital currencies, Bitcoin (BTC) and Ethereum (ETH) tend to be the most affected. As two of the largest and most widely traded cryptocurrencies, they are often influenced by major currency fluctuations. However, it's important to note that the overall market sentiment and other factors can also play a significant role in determining the impact on specific cryptocurrencies. So, while BTC and ETH may be more susceptible, other digital currencies can also be influenced to varying degrees.
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• Dec 27, 2021 · 3 years ago
  Fluctuations in the GBP/EUR rate can have a significant impact on digital currencies, especially those with high trading volumes and liquidity. Cryptocurrencies like Ripple (XRP), Litecoin (LTC), and Stellar (XLM) are among the ones that can experience notable effects. These cryptocurrencies have established themselves as popular choices for traders and investors, which makes them more sensitive to changes in major currency pairs like GBP/EUR. However, it's important to keep in mind that the cryptocurrency market is highly volatile, and various factors can contribute to price movements, including market sentiment, regulatory developments, and technological advancements.
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• Dec 27, 2021 · 3 years ago
  At BYDFi, we've observed that digital currencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) are often influenced by fluctuations in the GBP/EUR rate. These cryptocurrencies have a large user base and are actively traded on our platform. While BTC and ETH are generally more impacted due to their market dominance, XRP and LTC also exhibit sensitivity to changes in major currency pairs. It's important for traders and investors to stay informed about the latest market trends and factors that can affect the value of these digital currencies.
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