Which cryptocurrencies are most affected by the surge in USD?

1 answers

• Aditya _KumarJan 15, 2021 · 5 years ago
  At BYDFi, we have observed that cryptocurrencies with strong ties to USD, such as stablecoins and cryptocurrencies pegged to USD, are the most directly affected by the surge in USD. These cryptocurrencies are designed to mirror the value of USD, so any fluctuations in USD will directly impact their value. However, it's worth noting that the overall impact on the cryptocurrency market is not solely determined by USD fluctuations. Factors such as market sentiment, adoption, and technological advancements also play a significant role in shaping the market performance of cryptocurrencies. Therefore, it's important to consider a holistic view when assessing the impact of USD surge on cryptocurrencies.
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