Which cryptocurrencies are most affected by changes in the USD/JPY exchange rate?

5 answers

• Nov 29, 2021 · 3 years ago
  As an expert in the field, I can tell you that Bitcoin and Ethereum are the top cryptocurrencies that are most affected by changes in the USD/JPY exchange rate. These two digital currencies have the largest market capitalization and are widely traded against major fiat currencies, including the US dollar and Japanese yen. Therefore, any fluctuations in the USD/JPY exchange rate can have a significant impact on their prices. Additionally, Ripple, Litecoin, and Bitcoin Cash may also experience some level of influence from changes in the USD/JPY exchange rate. However, it's important to keep in mind that the cryptocurrency market is highly volatile and influenced by a multitude of factors, so it's always advisable to do your own research and consult with a financial advisor before making any investment decisions.
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• Nov 29, 2021 · 3 years ago
  At BYDFi, we've observed that Bitcoin and Ethereum tend to be the most responsive to changes in the USD/JPY exchange rate. These two cryptocurrencies have the largest market capitalization and are widely traded against major fiat currencies, including the US dollar and Japanese yen. As a result, any fluctuations in the USD/JPY exchange rate can have a significant impact on their prices. Other cryptocurrencies that may also be influenced by changes in the USD/JPY exchange rate include Ripple, Litecoin, and Bitcoin Cash. However, it's important to note that the correlation between these cryptocurrencies and the USD/JPY exchange rate may vary over time and is subject to market conditions. It's always recommended to conduct thorough research and analysis before making any investment decisions.
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• Nov 29, 2021 · 3 years ago
  Bitcoin and Ethereum are the most commonly mentioned cryptocurrencies when it comes to their relationship with the USD/JPY exchange rate. These two digital currencies are known for their high market capitalization and widespread adoption, which makes them more susceptible to fluctuations in major fiat currencies like the US dollar and Japanese yen. However, it's worth noting that the cryptocurrency market is highly volatile and influenced by various factors, so it's important to consider other aspects as well when evaluating the impact of the USD/JPY exchange rate on different cryptocurrencies. Ripple, Litecoin, and Bitcoin Cash are some other cryptocurrencies that may also be affected by changes in the USD/JPY exchange rate, although the extent of their correlation may vary.
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• Nov 29, 2021 · 3 years ago
  When it comes to the USD/JPY exchange rate, Bitcoin and Ethereum are the cryptocurrencies that are most commonly associated with its fluctuations. These two digital currencies have the largest market capitalization and are widely traded against major fiat currencies, including the US dollar and Japanese yen. As a result, any changes in the USD/JPY exchange rate can have a significant impact on their prices. Other cryptocurrencies that may also be influenced by the USD/JPY exchange rate include Ripple, Litecoin, and Bitcoin Cash. However, it's important to remember that the cryptocurrency market is highly volatile and influenced by a multitude of factors, so it's always advisable to conduct thorough research and seek professional advice before making any investment decisions.
  785157
• Nov 29, 2021 · 3 years ago
  Bitcoin and Ethereum are the most well-known cryptocurrencies that are often affected by changes in the USD/JPY exchange rate. These two digital currencies have the highest market capitalization and are widely traded against major fiat currencies, including the US dollar and Japanese yen. As a result, any fluctuations in the USD/JPY exchange rate can have a significant impact on their prices. Ripple, Litecoin, and Bitcoin Cash are also among the cryptocurrencies that may be influenced by changes in the USD/JPY exchange rate. However, it's important to consider that the cryptocurrency market is highly volatile and influenced by various factors, so it's always recommended to do thorough research and consult with a financial advisor before making any investment decisions.
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