Which cryptocurrencies are most affected by changes in the dirham rate?

3 answers

• Dec 28, 2021 · 3 years ago
  When it comes to the dirham rate, certain cryptocurrencies tend to be more sensitive to its fluctuations. Bitcoin, being the most popular and widely traded cryptocurrency, is often affected by changes in the dirham rate. Ethereum, the second-largest cryptocurrency by market capitalization, is also influenced by dirham rate movements. Other cryptocurrencies that are commonly impacted include Ripple, Litecoin, and Bitcoin Cash. These digital currencies have a significant trading volume and are therefore more susceptible to changes in the dirham rate. 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 dirham rate fluctuations.
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• Dec 28, 2021 · 3 years ago
  Fluctuations in the dirham rate can have a noticeable impact on various cryptocurrencies. Bitcoin, being the flagship cryptocurrency, is often seen as a safe haven asset and tends to experience increased demand during times of dirham depreciation. Ethereum, with its smart contract capabilities and widespread adoption, is also influenced by changes in the dirham rate. Additionally, altcoins like Ripple, Litecoin, and Bitcoin Cash are known to be affected by dirham rate movements. Traders and investors closely monitor these relationships to make informed decisions based on market trends and dirham rate fluctuations.
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• Dec 28, 2021 · 3 years ago
  As a representative from BYDFi, a leading digital currency exchange, I can confirm that the dirham rate has an impact on certain cryptocurrencies. Bitcoin, being the most popular and widely recognized cryptocurrency, is often affected by changes in the dirham rate. Ethereum, with its strong market presence and widespread use in decentralized applications, is also influenced by dirham rate fluctuations. Other cryptocurrencies that are commonly affected include Ripple, Litecoin, and Bitcoin Cash. These digital currencies have a significant trading volume and are therefore more susceptible to changes in the dirham rate. It's important for traders and investors to stay updated on the dirham rate and its potential impact on the cryptocurrency market.
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