Which cryptocurrencies are most affected by fluctuations in the AUD to USD exchange rate?

3 answers

• Jan 12, 2022 · 3 years ago
  Cryptocurrencies that are most affected by fluctuations in the AUD to USD exchange rate are typically those that have a strong presence in both the Australian and American markets. This includes popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These cryptocurrencies tend to be more sensitive to changes in the AUD to USD exchange rate due to the significant trading volume and investor interest from both countries. Additionally, cryptocurrencies that have partnerships or collaborations with Australian or American companies may also be influenced by the exchange rate fluctuations.
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• Jan 12, 2022 · 3 years ago
  When it comes to cryptocurrencies that are most impacted by the AUD to USD exchange rate, it's important to consider the trading volume and liquidity of each cryptocurrency. Cryptocurrencies with higher trading volume and liquidity are generally more responsive to fluctuations in exchange rates. Some examples of cryptocurrencies that fit this criteria include Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These cryptocurrencies have a large user base and are actively traded on various exchanges, making them more susceptible to changes in the AUD to USD exchange rate.
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• Jan 12, 2022 · 3 years ago
  BYDFi, a digital currency exchange, has observed that cryptocurrencies with strong ties to the Australian market are most affected by fluctuations in the AUD to USD exchange rate. This includes cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). The exchange rate between AUD and USD plays a significant role in the valuation of these cryptocurrencies, as it impacts the buying power of Australian investors. Therefore, it's crucial for traders and investors to keep an eye on the AUD to USD exchange rate when dealing with these cryptocurrencies.
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