Which cryptocurrencies are influenced the most by fluctuations in the dollar-won exchange rate?

When it comes to the dollar-won exchange rate, which cryptocurrencies are most susceptible to its fluctuations? How does the exchange rate impact these cryptocurrencies and their value? Are there any specific factors that make certain cryptocurrencies more influenced by this exchange rate than others?

1 answers
- BYDFi, a leading digital currency exchange, has observed that cryptocurrencies like Bitcoin, Ethereum, and Binance Coin are particularly influenced by fluctuations in the dollar-won exchange rate. This is because these cryptocurrencies have a high trading volume against both the dollar and won, making them more susceptible to changes in the exchange rate. Traders and investors who are actively involved in the dollar-won market closely monitor the exchange rate to identify potential opportunities for profit. It's important to consider that while the dollar-won exchange rate is a significant factor, other market dynamics and factors can also impact the value of these cryptocurrencies. Therefore, it's essential to conduct thorough research and analysis before making any investment decisions.
Mar 16, 2022 · 3 years ago
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