There are many ways to deal with a volatile crypto market. One of the most important things you can do besides using an AI bot to make your trades is to continue to educate yourself about the different cryptocurrencies on the market.
Nine of the Most Volatile Cryptocurrencies
A lot of people know about Bitcoin and Ethereum, but there are over 2,500 cryptocurrencies out there today. Some of them are very volatile, while others are much less so. Let’s take a look at the most volatile currencies based on daily percentage change.
1. Ripple XRP
XRP is the native currency of the Ripple network, and it’s one of the oldest cryptocurrencies around. Its value has increased by nearly 9,000% since January 2017, and it hit $3.80 per coin back in December. However, it’s lost half of that value since then.
2. Litecoin Cash LCC
Litecoin Cash is a spinoff of Litecoin, and it uses the same technology. One thing that makes it different from the original is that it offers instant transactions. It’s gained almost 7,000% since August 2018, making it the second best performer among the list.
3. Dash DASH
Dash is another privacy-focused currency that lets users send money instantly without giving away their personal information. This isn’t just limited to sending funds though; it’s also used for micropayments. Over 11,000% increase since February 2018 makes it the third highest performing currency.
4. Ethereum (ETH)
The world’s second-largest cryptocurrency by volume, Ethereum (ETH) is at the top of the list. While it outperformed bitcoin in the 2020 bull run, its volatility during the same period saw it drop up to 80% in some cases. ETH reached an all-time high price of nearly $4,400 in May 2021, a huge increase from just under $1,300 in January of the same year. Its growth last year is seen as one of the catalysts behind the rise of the entire crypto market, and its performance since hitting such heights has been nothing short of impressive.
5. Stellar (XLM)
The cryptocurrency market has seen some wild price swings recently, with many coins experiencing dramatic increases and declines over the course of just one day. One such coin is Stellar Lumens (XLM), which experienced a massive spike on Jan. 31. This brought the altcoin’s value up to $0.21 per unit. However, it wasn’t long before the crypto began falling again, dropping down to $0.12 per XLM token.
As with most major cryptos in the space, Stellar had a rough time during the second half of 2020. Although XLM fell off a cliff in January, it bounced back quickly and managed to reach $0.18 per XLM token by mid-April. However, since then, Stellar has once again begun sliding downwards, reaching lows around $0.08 per XLM token. Currently, Stellar is trading at around $0.10 per XLM token. In terms of market capitalization, Stellar ranks 11th amongst all cryptocurrencies.
6. Bitcoin (BTC)
The world’s leading cryptocurrency, Bitcoin, was not the most volatile digital currency of 2020. Instead, Ripple’s XRP overtook BTC as the most volatile crypto asset, according to CoinMarketCap data. In fact, XRP rose by almost 2,500% in 2020, while Bitcoin lost over half its value.
In January 2020, Bitcoin reached a record high of $20,000 per coin. By the end of June, however, the price had fallen by 50%, reaching a new low near $7,400.
However, following the huge rally in early April, the price of BTC soared again, reaching a new peak of $39,000 on 14th April. But since then, the price of Bitcoin has been falling rapidly, dropping by 50% to around $24,000 by the start of July.
7. Bitcoin Gold (BTG)
The cryptocurrency market has seen a lot of activity over the past few months. With most major cryptocurrencies trading above the $10k mark, there are some coins that have managed to hold onto their value despite the bearish trend. One such coin is Bitcoin Gold (BTG). While it is still one of the lowest valued cryptocurrencies, it has managed to remain relatively stable throughout the recent crypto crash. This makes it an interesting pick for investors looking to diversify into altcoins.
In fact, according to data compiled by CoinMarketCap, Bitcoin Gold is now ranked as the sixth largest cryptocurrency in terms of total market capitalization. Currently, the price per unit stands at around $0.0014. The current 24-hour volume is $2.6 million. At the moment, BTG is trading up about 0.3%.
8. Shiba Inu (SHIB)
In January 2020, a Japanese dog breed named Shiba Inu became the world’s most popular dog according to Dogster.com. This makes sense considering how cute dogs are, but what does this mean for crypto investors? Well, there’s no denying the fact that cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and others are highly volatile. However, Shiba Inu seems to buck the trend as it experienced a massive spike in popularity during the coronavirus pandemic. On February 24th, 2020, the price of Shiba Inu increased over 3000%, reaching $300 per unit.
The reason behind this sudden rise in popularity is because of the positive impact COVID-19 is having on the global economy. As we know, Japan is one of the countries worst affected by the virus. At the end of February, Tokyo accounted for almost half of the total confirmed cases worldwide. Additionally, the Japanese government has been forced to close schools, universities and many businesses due to the spread of COVID-19. This has led to a significant drop in demand for goods and services, resulting in a drastic decrease in economic activity.
This decline in economic activity has resulted in a sharp increase in unemployment rates across the
9. Dogecoin (DOGE)
Coming in at number 10 is the original meme coin, Dogecoin (also known as DOGE). Its volatility reached 9530% in 2017, and its ever growing popularity saw it reach the number six spot in terms of crypto market cap at one point. Dogecoin owes its success to social media endorsements, including those from Elon Musk, its listings on both Binance and Coinbase, and the subreddit Satoshi Street Betz.
The cryptocurrency soared nearly 6000% over a period of months, reaching $0.0063 per unit in early December 2017. However, it fell sharply, dropping almost 90% within a week. In January 2018, Dogecoin hit its lowest value since the beginning of 2016, trading at just 0.00005 cents per unit.
The cryptocurrency market isn’t as daunting as it seems when you work with the right team! Check out the EndoTech Academy for expert advice.