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

1 answers

• Browne KempApr 06, 2024 · 2 years ago
  Fluctuations in the dollar to yen exchange rate can have a significant impact on certain cryptocurrencies. Bitcoin, being the most dominant cryptocurrency, is often affected by changes in major fiat currencies, including the dollar and yen. Ethereum, with its strong presence in Japan and active trading against the yen, is also influenced by fluctuations in the exchange rate. Other cryptocurrencies like Ripple and Litecoin, which have gained popularity in Japan, may also experience price movements in response to changes in the dollar to yen exchange rate. It's important to note that the impact of these fluctuations may vary depending on various factors, such as market conditions and investor sentiment. Traders and investors should consider the dollar to yen exchange rate as one of the factors when analyzing the potential impact on these cryptocurrencies.
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