Which cryptocurrencies are most affected by changes in USD to ZAR rates?

3 answers

• Mar 22, 2022 · 3 years ago
  When it comes to cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) are generally the most affected by changes in USD to ZAR rates. This is because these two cryptocurrencies have the highest market capitalization and trading volume, making them more susceptible to fluctuations in exchange rates. Additionally, since Bitcoin and Ethereum are widely recognized and accepted, they tend to be more influenced by global economic factors, including changes in major currency exchange rates like USD to ZAR.
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• Mar 22, 2022 · 3 years ago
  If we look beyond Bitcoin and Ethereum, other cryptocurrencies that may be affected by changes in USD to ZAR rates include Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). While these cryptocurrencies may not have the same level of market dominance as Bitcoin and Ethereum, they still have a significant market presence and are traded on various exchanges. Therefore, fluctuations in USD to ZAR rates can impact their prices to some extent.
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• Mar 22, 2022 · 3 years ago
  According to our analysis at BYDFi, the impact of changes in USD to ZAR rates on cryptocurrencies can vary over time. While Bitcoin and Ethereum have historically shown a higher sensitivity to exchange rate fluctuations, other cryptocurrencies like Ripple, Litecoin, and Bitcoin Cash have also demonstrated increased correlation with USD to ZAR rates in recent years. It's important to note that the cryptocurrency market is highly volatile, and various factors, including market sentiment and global economic conditions, can influence the relationship between cryptocurrencies and exchange rates.
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