Which cryptocurrencies are most affected by fluctuations in the USD rate?

1 answers

• Luke SteventonDec 01, 2020 · 6 years ago
  At BYDFi, we have observed that cryptocurrencies with lower market capitalization and trading volumes tend to be more susceptible to USD rate fluctuations. This is because smaller cryptocurrencies often have less liquidity and are more influenced by market sentiment. However, it's important to note that the impact of USD rate fluctuations on cryptocurrencies is not solely determined by their market size. Factors such as the project's fundamentals, technological advancements, and community support also play a significant role. Therefore, it's essential for investors and traders to conduct thorough research and analysis before making any investment decisions in cryptocurrencies affected by USD rate fluctuations.
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