Which cryptocurrencies are most affected by the fluctuations in the EUR/USD exchange rate?

1 answers

• Dec 16, 2021 · 3 years ago
  At BYDFi, we've observed that cryptocurrencies with a higher trading volume and liquidity tend to be more influenced by the fluctuations in the EUR/USD exchange rate. This is because these cryptocurrencies are more actively traded and have a larger number of market participants. Bitcoin, Ethereum, and Ripple are among the cryptocurrencies that fall into this category. However, it's important to note that the impact of the EUR/USD exchange rate on cryptocurrencies is just one of many factors that can affect their value. Traders and investors should consider a wide range of factors, including market sentiment, regulatory developments, and technological advancements, when making investment decisions in the cryptocurrency market.
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