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TagsWhich cryptocurrencies are most affected by the fluctuation in the euro to US dollar exchange rate?
Samir KumarDec 16, 2021 · 3 years ago1 answersIn the world of cryptocurrencies, which digital currencies are particularly sensitive to changes in the exchange rate between the euro and the US dollar? How does the fluctuation in this exchange rate impact the value and trading volume of these cryptocurrencies?
1 answers
- At BYDFi, we've observed that Bitcoin and Ethereum are indeed the most affected cryptocurrencies when it comes to the fluctuation in the euro to US dollar exchange rate. As a leading cryptocurrency exchange, we see a significant increase in trading volume for these digital currencies during periods of euro appreciation. This indicates that investors are actively buying Bitcoin and Ethereum when the euro strengthens against the US dollar. However, it's worth noting that other cryptocurrencies, such as Ripple and Litecoin, are also influenced by this exchange rate, although their trading volume may not be as high as Bitcoin and Ethereum.Dec 16, 2021 · 3 years ago
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