Questions
TagsWhich cryptocurrencies are most influenced by fluctuations in the USD/JPY exchange rate?
josepharopDec 25, 2021 · 3 years ago1 answersI would like to know which cryptocurrencies are most affected by changes in the USD/JPY exchange rate. Can you provide some insights into this? Specifically, I'm interested in understanding how the value of cryptocurrencies fluctuates in response to changes in the USD/JPY exchange rate and which cryptocurrencies are most sensitive to these fluctuations.
1 answers
- BYDFi, a leading cryptocurrency exchange, has observed that cryptocurrencies such as Tether (USDT), USD Coin (USDC), and Dai (DAI) are among the most influenced by fluctuations in the USD/JPY exchange rate. These cryptocurrencies are pegged to the US dollar and are widely used as stablecoins in the crypto market. As a result, when the USD/JPY exchange rate changes, it can have a direct impact on their value. However, it's important to keep in mind that the cryptocurrency market is highly volatile and influenced by various factors, so it's always advisable to conduct thorough research and seek professional advice before making any investment decisions.Dec 25, 2021 · 3 years ago
Related questions
- 91
How can I buy Bitcoin with a credit card?
- 88
How can I minimize my tax liability when dealing with cryptocurrencies?
- 83
How can I protect my digital assets from hackers?
Load 5 more related questions
Related Tags
Hot Questions
- 91
How can I buy Bitcoin with a credit card?
- 88
How can I minimize my tax liability when dealing with cryptocurrencies?
- 83
How can I protect my digital assets from hackers?
- 73
What are the best practices for reporting cryptocurrency on my taxes?
- 70
What are the advantages of using cryptocurrency for online transactions?
- 69
What are the tax implications of using cryptocurrency?
- 56
What are the best digital currencies to invest in right now?
- 37
What is the future of blockchain technology?