Which digital currencies are most affected by changes in the euro spot rate?

3 answers

• Mar 06, 2022 · 3 years ago
  The digital currencies that are most affected by changes in the euro spot rate are those that have a high trading volume in the euro market. When the euro spot rate fluctuates, it can impact the value of these digital currencies, as traders may buy or sell them based on the exchange rate. Additionally, changes in the euro spot rate can also affect the trading volume of these digital currencies, as it may influence the demand and supply dynamics in the market.
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• Mar 06, 2022 · 3 years ago
  Fluctuations in the euro spot rate can have a significant impact on digital currencies like Bitcoin, Ethereum, and Ripple. These cryptocurrencies are widely traded in the euro market and any changes in the euro spot rate can affect their value. Traders and investors closely monitor the euro spot rate as it can provide insights into the overall market sentiment and influence their trading decisions.
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• Mar 06, 2022 · 3 years ago
  According to a study conducted by BYDFi, the digital currencies that are most affected by changes in the euro spot rate are Bitcoin, Ethereum, and Litecoin. These cryptocurrencies have a strong correlation with the euro spot rate and tend to experience significant price movements when there are fluctuations in the exchange rate. Traders should consider the euro spot rate when trading these digital currencies to make informed decisions.
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