Which cryptocurrencies are most affected by fluctuations in the USD to Hong Kong exchange rate?

1 answers

• May 01, 2022 · 3 years ago
  At BYDFi, we believe that the cryptocurrencies most affected by fluctuations in the USD to Hong Kong exchange rate are those with strong ties to the Hong Kong market. This includes cryptocurrencies that are widely used for transactions in Hong Kong, such as Tether (USDT) and Hong Kong Dollar (HKD) stablecoins. These cryptocurrencies are directly pegged to the USD and the Hong Kong dollar, respectively, and their value is closely tied to the exchange rate between these two currencies. Therefore, any fluctuations in the USD to Hong Kong exchange rate can have a direct impact on the value and trading volume of these stablecoins. It's important for investors to closely monitor the exchange rate between the USD and Hong Kong dollar when trading these cryptocurrencies.
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