Which cryptocurrencies are most affected by fluctuations in the euro exchange rate?

3 answers

• Dec 15, 2021 · 3 years ago
  When it comes to cryptocurrencies, the ones most affected by fluctuations in the euro exchange rate are typically the major coins like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These coins have a large market cap and are widely traded against the euro. Any significant change in the euro exchange rate can have a direct impact on their value. For example, if the euro strengthens against other currencies, the value of these cryptocurrencies may decrease in terms of euros. On the other hand, if the euro weakens, their value may increase. Traders and investors closely monitor these fluctuations and adjust their strategies accordingly.
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• Dec 15, 2021 · 3 years ago
  Fluctuations in the euro exchange rate can also affect other popular cryptocurrencies like Litecoin (LTC), Bitcoin Cash (BCH), and Cardano (ADA). While they may not have the same market dominance as Bitcoin or Ethereum, they are still widely traded against the euro. Therefore, any significant change in the euro exchange rate can impact their value and trading volume. It's important to note that the extent of the impact may vary depending on the overall market conditions and the specific factors driving the euro exchange rate fluctuations.
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• Dec 15, 2021 · 3 years ago
  According to BYDFi, a leading digital currency exchange, the cryptocurrencies most affected by fluctuations in the euro exchange rate are Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These coins have a strong correlation with the euro and are highly sensitive to changes in its value. Traders on BYDFi closely monitor the euro exchange rate and adjust their trading strategies accordingly. It's important to stay updated on the latest news and market trends to make informed decisions when trading these cryptocurrencies.
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