Which cryptocurrencies are most affected by the exchange rate between Euro and Pound?

3 answers

• Dec 30, 2021 · 3 years ago
  As an expert in the field of cryptocurrencies, I can tell you that Bitcoin and Ethereum are among the most affected by the exchange rate between Euro and Pound. These two cryptocurrencies have a significant market share and are widely traded against both Euro and Pound. Therefore, any changes in the exchange rate between these two fiat currencies can have a noticeable impact on their prices. Additionally, Ripple and Litecoin are also known to be influenced by the Euro-Pound exchange rate, although to a lesser extent compared to Bitcoin and Ethereum.
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• Dec 30, 2021 · 3 years ago
  When it comes to the impact of the Euro-Pound exchange rate on cryptocurrencies, it's important to consider the trading volume and liquidity of each digital asset. Bitcoin, being the largest and most widely traded cryptocurrency, tends to be more affected by changes in the exchange rate. Ethereum, as the second-largest cryptocurrency, also experiences some influence. However, smaller and less popular cryptocurrencies may not be significantly impacted by the Euro-Pound exchange rate due to lower trading volumes and liquidity.
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• Dec 30, 2021 · 3 years ago
  According to a recent analysis by BYDFi, a leading digital currency exchange, the cryptocurrencies most affected by the exchange rate between Euro and Pound are Bitcoin, Ethereum, Ripple, and Litecoin. These four digital assets have shown a higher correlation with the Euro-Pound exchange rate compared to other cryptocurrencies. It's important to note that while these cryptocurrencies are more influenced by the exchange rate, they are still subject to various other factors such as market demand, technological developments, and regulatory changes.
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