Which cryptocurrencies are most affected by changes in the exchange rate of USD to RM?

3 answers

• May 08, 2022 · 3 years ago
  When it comes to the impact of changes in the USD to RM exchange rate on cryptocurrencies, Bitcoin and Ethereum are among the most affected. These two cryptocurrencies have a significant global presence and are widely traded against various fiat currencies, including the USD and RM. As the exchange rate between USD and RM fluctuates, it directly affects the value of Bitcoin and Ethereum in Malaysian markets. Traders and investors in Malaysia closely monitor these exchange rate movements to make informed decisions about their cryptocurrency holdings.
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• May 08, 2022 · 3 years ago
  Cryptocurrencies like Ripple (XRP) and Litecoin (LTC) are also influenced by changes in the USD to RM exchange rate. Although not as dominant as Bitcoin and Ethereum, Ripple and Litecoin have a substantial market presence and are traded on various exchanges. As the exchange rate between USD and RM changes, it indirectly impacts the value of Ripple and Litecoin in Malaysian markets. Traders and investors who are interested in these cryptocurrencies should keep an eye on the exchange rate movements to assess potential risks and opportunities.
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• May 08, 2022 · 3 years ago
  According to our analysis at BYDFi, a leading cryptocurrency exchange, the most affected cryptocurrencies by changes in the USD to RM exchange rate are Bitcoin, Ethereum, and Ripple. These three digital currencies have a strong correlation with the exchange rate due to their widespread adoption and trading volume. Traders and investors should consider the exchange rate dynamics when dealing with these cryptocurrencies to minimize risks and maximize potential gains.
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