Which cryptocurrencies are most affected by the fluctuation between dollar and euro?

3 answers

• Dec 16, 2021 · 3 years ago
  The fluctuation between the dollar and the euro can have a significant impact on certain cryptocurrencies. Cryptocurrencies that are directly paired with the dollar or euro, such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), are likely to be the most affected. When the dollar strengthens against the euro, the value of these cryptocurrencies may increase, as investors seek alternative assets. Conversely, if the euro strengthens against the dollar, the value of these cryptocurrencies may decrease. It's important to note that the impact of currency fluctuations on cryptocurrencies can be complex and influenced by various factors, including market sentiment and global economic conditions.
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• Dec 16, 2021 · 3 years ago
  When it comes to the influence of the dollar-euro fluctuation on cryptocurrencies, it's essential to consider the overall market dynamics. While cryptocurrencies like Bitcoin, Ethereum, and Ripple are commonly affected due to their high trading volumes and global popularity, other digital currencies may also experience significant impacts. For instance, stablecoins like Tether (USDT) and USD Coin (USDC) are directly pegged to the US dollar, making them highly sensitive to any fluctuations in the dollar-euro exchange rate. Additionally, altcoins with strong ties to European markets, such as Cardano (ADA) and Stellar (XLM), may also be influenced by the dollar-euro fluctuation, as they rely on European partnerships and user bases.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we believe that the cryptocurrencies most affected by the fluctuation between the dollar and the euro are those with high liquidity and trading volume. While Bitcoin and Ethereum are undoubtedly impacted due to their dominance in the market, other altcoins like Litecoin (LTC) and Bitcoin Cash (BCH) can also experience significant price movements. These cryptocurrencies have established themselves as major players in the crypto space and are often traded against both the dollar and the euro on various exchanges. Therefore, any changes in the dollar-euro exchange rate can have a direct impact on their values. It's important for investors to stay informed about the latest currency fluctuations and their potential effects on different cryptocurrencies.
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