2022-4-29 19:47 |
Cryptocurrency trading is a common activity these days. Indeed, it is estimated that cryptocurrencies worth over $100 billion is traded every day. The figure is much higher in the derivative and futures market. In this article, we will look at the best cryptocurrencies to day trade in 2022. The criteria will be coins that have reasonable volume and those that are offered by most brokers.
Cardano (ADA)Cardano is a blockchain project that was started by Charles Hoskinson in 2015. Hoskinson was a co-founder of Ethereum, the second-biggest cryptocurrency in the world. His goal was to create a blockchain project that is fast, reliable, and cost-effective than Ethereum.
Cardano implemented smart contract features in 2021 and has since then seen its ecosystem grow. Today, there are several applications built using Cardano’s technology including SundaeSwap and MinSwap. In total, they have a total value locked (TVL) of over $300 million. Cardano is a good cryptocurrency to day trade because of its low price and volatility.
Read more on how to buy Cardano.
Shiba Inu (SHIB)Shiba Inu is a leading cryptocurrency that was started in 2021. At the time, it was started to become an alternative to Dogecoin, which was growing in popularity back then. Today, the Shiba Inu price has risen from where it was listed, pushing its market cap to more than $13 billion.
The ecosystem has also grown as the developers have launched ShibaSwap, an ecosystem with over $130 million in total value locked (TVL). They have also launched an NFT marketplace and a metaverse platform. Shiba Inu is a good crypto to trade because of its low notional value and the fact that it has some volatility.
Read more on how to buy Shiba Inu.
Ripple (XRP)Ripple is one of the oldest and most popular cryptocurrencies in the world. It was developed by Ripple Labs, a fintech company that helps companies move money around. It is an important part in the so-called On-Demand Liquidity (ODL) network.
Ripple is a popular cryptocurrency to both investors and traders. For one, a single XRP token trades at $0.64, making it a highly attractive cryptocurrency. There are also many headlines about Ripple such as that of the ongoing case between Ripple and the Securities and Exchange Commission (SEC).
Also, Ripple is always making deals with companies and there is a likelihood that it will soon go public. All this makes XRP a very attractive coin to day trade.
Read more on how to buy Ripple.
ApeCoin (APE)ApeCoin is a relatively new cryptocurrency that was launched in 2022. Shortly after launch, the coin’s price surged and its market cap rose to over $6 billion. It is now the 25th biggest cryptocurrency in the world with a market cap of over $6.15 billion.
ApeCoin was launched by Yuga Labs, the founder of Bored Ape Yacht Club, one of the biggest names in the NFT industry. The coin’s goal is to help facilitate payments in the network. It is also part of the platform’s ecosystem growth. For example, they have already announced plans for a metaverse that will be powered by APE. ApeCoin is a highly liquid cryptocurrency that works well for traders.
Learn more about how to buy ApeCoin.
Chainlink (LINK)Chainlink is a blockchain project that many people don’t know about but it is one that most people have used indirectly. It is not well-known because it does not have a consumer-facing product. Instead, it is used by most DeFi builders to bring off-chain data to the blockchain.
Therefore, whenever you are using products like AAVE, Abracadabra, Anchor, and Uniswap, you are using Chainlink. It is the biggest oracle network with a total value secured (TVS) of over $55 billion. Chainlink is a good crypto to trade because of its volatility and the fact that it is provided by most exchanges.
Read more about how to buy Chainlink.
Stellar Lumens (XLM)Stellar is a blockchain project that helps companies in the money transfer industry. It is governed by Stellar Foundation, which is headed by one of the Ripple Labs founders. Its core platform enables people to create digital representations of money. By so doing, they can move it at a faster pace. Stellar is well-known for its partnership with Circle.
The partnership helped Circle to build USD Coin, the second-biggest stablecoin in the world. Stellar has also partnered with other companies like MoneyGram and Flutterwave.
Learn how to buy Stellar Lumens.
Dogecoin (DOGE)Dogecoin is the biggest meme coin in the world with a market cap of over $18 billion. The coin, which was started in 2014, has become extremely popular among investors because of its close association with Elon Musk. On-chain data shows that DOGE is owned widely by thousands of people from around the world. It is also offered by most exchanges like Coinbase and Binance. The fact that a single DOGE sells for $0.13 and that it is highly volatile makes it a good crypto to trade.
Read more about how to buy Dogecoin.
Litecoin (LTC)Litecoin is one of the most popular cryptocurrencies in the world. It is a proof-of-work cryptocurrency that was created using the same concepts as Bitcoin. The coin is often seen as a better version of BTC because of its low transaction costs and the fact that it is fast. Litecoin is popular among day traders who are afraid about the significantly high cost of Bitcoin. It is also highly volatile and provided by most brokers.
Learn how to buy Litecoin.
Ethereum (ETH)Ethereum is often viewed as the most important blockchain project in the world. Some analysts believe that it is actually more useful than Bitcoin. This is mostly because of its smart contract features that make it possible for people to build decentralized apps. For example, it has been used to build apps like Uniswap, Curve, and even Decentraland. ETH is a good crypto to trade in 2022 because of the upcoming transition from proof-of-work to proof-of-stake.
Learn more about Ethereum here.
Bitcoin Cash (BCH)Bitcoin Cash is a cryptocurrency that emerged from a hard fork of Bitcoin. Today, the coin has a market cap of over $5.7 billion. Like Litecoin, BCH is often seen as a better alternative to Bitcoin. It is also a bit faster and its network is not as congested. It is also highly volatile since it tends to track the movement of Bitcoin. Bitcoin Cash is a great coin to trade in 2022.
The post 10 Best Cryptocurrencies to Day Trade in 2022 appeared first on Coin Journal.
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