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

1 answers

• Jan 17, 2022 · 3 years ago
  At BYDFi, we closely monitor the impact of the exchange rate between the USD and Euro on cryptocurrencies. While all cryptocurrencies can be influenced by this exchange rate, some of the most affected ones include Bitcoin, Ethereum, and Litecoin. When the USD strengthens against the Euro, the value of these cryptocurrencies may decrease as investors prefer to hold their funds in USD. Conversely, when the Euro strengthens against the USD, the value of these cryptocurrencies may increase as investors see them as a potential hedge against the weakening USD. It's important to keep in mind that the exchange rate is just one of many factors that can impact the value of cryptocurrencies. Other factors such as market sentiment, regulatory developments, and overall demand also play a significant role.
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