Which cryptocurrencies are most affected by the eurodollar contract?

3 answers

• BogdanMar 28, 2021 · 4 years ago
  The eurodollar contract has a significant impact on cryptocurrencies such as Bitcoin, Ethereum, and Ripple. This is because these cryptocurrencies are widely traded and have a high market capitalization. The eurodollar contract affects these cryptocurrencies as it is a popular derivative instrument used by traders to speculate on the future value of the euro against the US dollar. As the eurodollar contract influences the value of the euro, it indirectly affects the prices of cryptocurrencies that are traded against the euro. Traders closely monitor the eurodollar contract to make informed decisions about their cryptocurrency investments.
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• Jozmar Hernandez chachaAug 19, 2024 · a year ago
  When it comes to the impact of the eurodollar contract on cryptocurrencies, it's important to consider the liquidity and trading volume of each cryptocurrency. Cryptocurrencies with higher liquidity and trading volume, such as Bitcoin and Ethereum, are more likely to be affected by the eurodollar contract. This is because the eurodollar contract is a widely traded derivative instrument that can influence the overall market sentiment and liquidity. On the other hand, smaller cryptocurrencies with lower liquidity may not be as significantly affected by the eurodollar contract.
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• Mamadou DIALLODec 19, 2023 · 2 years ago
  BYDFi, a leading digital currency exchange, has observed that cryptocurrencies with a strong correlation to the euro are most affected by the eurodollar contract. This includes cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The eurodollar contract plays a crucial role in shaping the value of the euro, and as a result, cryptocurrencies that are closely tied to the euro experience greater fluctuations in price when the eurodollar contract is active. Traders who are interested in these cryptocurrencies should closely monitor the eurodollar contract to stay informed about potential price movements.
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