Which cryptocurrencies are most impacted by the exchange rate between USD and RMB?

1 answers

• Dec 30, 2021 · 3 years ago
  The exchange rate between USD and RMB can have a significant impact on the value of cryptocurrencies. Bitcoin, Ethereum, and Ripple are among the cryptocurrencies that are most influenced by this exchange rate. When the USD strengthens against the RMB, the value of these cryptocurrencies tends to rise as it becomes more expensive for Chinese investors to purchase them. Conversely, when the USD weakens against the RMB, the value of these cryptocurrencies may decline as it becomes cheaper for Chinese investors to sell them. It's important to keep in mind that the exchange rate is just one of many factors that can affect the value of cryptocurrencies, and investors should consider a range of factors before making any investment decisions.
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