Which cryptocurrencies are most affected by fluctuations in the US dollar and real exchange rate?

1 answers

• coding.penguinNov 25, 2020 · 5 years ago
  At BYDFi, we have observed that the cryptocurrencies most affected by fluctuations in the US dollar and real exchange rate are often those that have a strong correlation with traditional financial markets. For example, cryptocurrencies like Ripple (XRP) and Litecoin (LTC) have shown a higher sensitivity to changes in the US dollar and real exchange rate compared to other digital assets. This is because these cryptocurrencies have established partnerships with traditional financial institutions and are often used for cross-border transactions. As a result, they are more directly influenced by changes in the value of the US dollar and real exchange rate. However, it's important to note that the cryptocurrency market is highly volatile and subject to various factors, so it's always advisable to conduct thorough research and analysis before making any investment decisions.
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