Which cryptocurrencies are most affected by changes in the US-Australian exchange rate?

3 answers

• Dec 17, 2021 · 3 years ago
  When it comes to the impact of changes in the US-Australian exchange rate on cryptocurrencies, Bitcoin and Ethereum are often the most affected. This is because these two cryptocurrencies have the highest market capitalization and are widely traded across different exchanges. As the exchange rate between the US dollar and the Australian dollar fluctuates, it can influence the demand and supply of Bitcoin and Ethereum in the market. Other cryptocurrencies, such as Ripple and Litecoin, may also be influenced by this exchange rate, but to a lesser extent.
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• Dec 17, 2021 · 3 years ago
  Fluctuations in the US-Australian exchange rate can have a significant impact on the value of cryptocurrencies. Cryptocurrencies like Bitcoin, Ethereum, and Ripple are highly traded and have a global presence. As the exchange rate between the US dollar and the Australian dollar changes, it can affect the demand and supply of these cryptocurrencies. Traders and investors who are actively involved in the US-Australian market may closely monitor the exchange rate movements to make informed decisions regarding their cryptocurrency investments.
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• Dec 17, 2021 · 3 years ago
  According to a study conducted by BYDFi, the exchange rate between the US dollar and the Australian dollar has a noticeable impact on the value of cryptocurrencies. Bitcoin and Ethereum, being the most popular and widely traded cryptocurrencies, are more sensitive to changes in this exchange rate. Traders and investors who are interested in these cryptocurrencies should keep an eye on the US-Australian exchange rate as it can influence their investment decisions. However, it's important to note that other factors, such as market sentiment and global economic conditions, also play a significant role in determining the value of cryptocurrencies.
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