Which cryptocurrencies are most affected by changes in the dollar exchange rate to yen?

3 answers

• choco holicApr 19, 2024 · a year ago
  Cryptocurrencies that are most affected by changes in the dollar exchange rate to yen include Bitcoin, Ethereum, and Ripple. These cryptocurrencies are highly traded in both the US and Japan, making them sensitive to fluctuations in the dollar-to-yen exchange rate. When the dollar strengthens against the yen, the value of these cryptocurrencies tends to increase. Conversely, when the dollar weakens against the yen, their value may decrease. This relationship is due to the significant trading volume and investor sentiment in both countries.
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• kuddlmuddlsApr 25, 2023 · 2 years ago
  When it comes to the impact of the dollar-to-yen exchange rate on cryptocurrencies, Bitcoin takes the lead. As the most popular and widely recognized cryptocurrency, Bitcoin's value is influenced by various factors, including changes in the exchange rate between the US dollar and the Japanese yen. Other cryptocurrencies like Ethereum and Ripple also experience some level of impact, but not to the same extent as Bitcoin. It's important to note that the relationship between the dollar exchange rate and cryptocurrency values is complex and can be influenced by a multitude of factors beyond just the exchange rate itself.
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• Arif HaqueDec 13, 2022 · 3 years ago
  BYDFi, a leading digital currency exchange, has observed that Bitcoin, Ethereum, and Litecoin are among the cryptocurrencies most affected by changes in the dollar exchange rate to yen. These cryptocurrencies have a strong presence in both the US and Japanese markets, which makes them susceptible to fluctuations in the dollar-to-yen exchange rate. When the dollar strengthens against the yen, the value of these cryptocurrencies tends to rise, attracting more investors. Conversely, when the dollar weakens against the yen, their value may decline. It's important for traders and investors to closely monitor the dollar-to-yen exchange rate as it can have a significant impact on the value of these cryptocurrencies.
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